TD Asset Management Inc Purchases 578,706 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

TD Asset Management Inc lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 1,653.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 613,706 shares of the company’s stock after purchasing an additional 578,706 shares during the period. TD Asset Management Inc owned 0.07% of Robinhood Markets worth $13,937,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Robinhood Markets by 12.5% during the 4th quarter. Victory Capital Management Inc. now owns 59,116 shares of the company’s stock worth $753,000 after acquiring an additional 6,551 shares during the period. National Bank of Canada FI boosted its holdings in shares of Robinhood Markets by 94,500.0% in the 4th quarter. National Bank of Canada FI now owns 94,600 shares of the company’s stock valued at $1,170,000 after purchasing an additional 94,500 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at $26,000. Jump Financial LLC boosted its holdings in shares of Robinhood Markets by 86.6% in the 4th quarter. Jump Financial LLC now owns 24,700 shares of the company’s stock valued at $315,000 after purchasing an additional 11,462 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Robinhood Markets by 26.9% in the 4th quarter. QRG Capital Management Inc. now owns 13,310 shares of the company’s stock valued at $170,000 after purchasing an additional 2,821 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 143,944 shares of Robinhood Markets stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,185,406 shares of company stock valued at $23,490,554. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Trading Up 3.8 %

Shares of HOOD opened at $19.66 on Tuesday. The company has a market capitalization of $17.39 billion, a PE ratio of 131.07 and a beta of 1.83. Robinhood Markets, Inc. has a 12 month low of $7.91 and a 12 month high of $24.88. The stock’s 50-day moving average price is $20.68 and its two-hundred day moving average price is $19.63.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The firm had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The business’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. Equities research analysts predict that Robinhood Markets, Inc. will post 0.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised Robinhood Markets from a “hold” rating to a “buy” rating and raised their target price for the company from $21.00 to $24.00 in a report on Thursday, August 15th. Piper Sandler raised Robinhood Markets from a “neutral” rating to an “overweight” rating and raised their target price for the company from $20.00 to $23.00 in a report on Monday, August 12th. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price on the stock in a report on Wednesday, June 26th. Keefe, Bruyette & Woods reduced their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Finally, KeyCorp raised their price objective on Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Hold” and a consensus target price of $22.83.

Robinhood Markets Profile

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.