Invesco Ltd. Has $462.77 Million Holdings in Robinhood Markets, Inc. $HOOD

Invesco Ltd. increased its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 81.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,942,533 shares of the company’s stock after buying an additional 2,212,487 shares during the period. Invesco Ltd.’s holdings in Robinhood Markets were worth $462,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of HOOD. Hantz Financial Services Inc. boosted its holdings in Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after acquiring an additional 148 shares during the period. Smithfield Trust Co acquired a new position in shares of Robinhood Markets during the 2nd quarter worth about $29,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Robinhood Markets during the 2nd quarter worth about $34,000. V Square Quantitative Management LLC bought a new stake in Robinhood Markets during the 2nd quarter valued at approximately $36,000. Finally, LGT Financial Advisors LLC acquired a new stake in Robinhood Markets in the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction on Monday, October 27th. The stock was sold at an average price of $146.91, for a total transaction of $861,480.24. Following the completion of the transaction, the chief technology officer directly owned 6,088 shares of the company’s stock, valued at approximately $894,388.08. This trade represents a 49.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 48,350 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $140.61, for a total transaction of $6,798,493.50. Following the completion of the sale, the insider owned 70,279 shares in the company, valued at $9,881,930.19. This represents a 40.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,929,294 shares of company stock valued at $502,634,988. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Stock Up 2.6%

NASDAQ HOOD opened at $137.08 on Friday. The stock has a market cap of $123.26 billion, a P/E ratio of 56.88, a PEG ratio of 3.00 and a beta of 2.43. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The company’s 50-day simple moving average is $133.09 and its 200 day simple moving average is $108.96.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned $0.17 earnings per share. The company’s quarterly revenue was up 100.0% on a year-over-year basis. Research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HOOD. Citizens Jmp upped their price target on Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. Morgan Stanley boosted their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a research note on Monday. The Goldman Sachs Group raised their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Finally, Compass Point restated a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.95.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.