Robinhood Markets, Inc. $HOOD Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,612,131 shares of the company’s stock after buying an additional 1,371,051 shares during the period. Vanguard Group Inc. owned 8.51% of Robinhood Markets worth $7,079,564,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HOOD. HighTower Advisors LLC boosted its stake in Robinhood Markets by 6.4% during the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock valued at $2,092,000 after purchasing an additional 3,032 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Robinhood Markets by 3.1% in the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock worth $677,000 after buying an additional 486 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Robinhood Markets by 125.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock valued at $799,000 after buying an additional 10,703 shares during the period. Metavasi Capital LP boosted its stake in Robinhood Markets by 275.0% during the first quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock valued at $3,122,000 after buying an additional 55,000 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Robinhood Markets by 137.6% during the first quarter. Deutsche Bank AG now owns 1,761,767 shares of the company’s stock worth $73,325,000 after acquiring an additional 1,020,286 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Robinhood Markets

In other news, Director Meyer Malka sold 1,093,288 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the transaction, the director owned 3,976,234 shares in the company, valued at $413,011,425.58. This represents a 21.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 1,330,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,297,404 shares of company stock valued at $529,026,559 in the last ninety days. Company insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HOOD. Piper Sandler reissued an “overweight” rating and issued a $140.00 price target (up from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. JMP Securities increased their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Needham & Company LLC raised their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Keefe, Bruyette & Woods upped their price target on Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Finally, Citigroup increased their price objective on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.65.

Robinhood Markets Price Performance

HOOD stock opened at $114.30 on Wednesday. The firm has a market capitalization of $102.78 billion, a P/E ratio of 47.43, a P/E/G ratio of 2.59 and a beta of 2.42. Robinhood Markets, Inc. has a 52-week low of $29.66 and a 52-week high of $153.86. The company’s 50 day simple moving average is $132.70 and its 200-day simple moving average is $104.10.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.17 EPS. The company’s revenue was up 100.0% on a year-over-year basis. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Robinhood Markets Company 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.