Baird Financial Group Inc. Buys New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Baird Financial Group Inc. bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,180 shares of the company's stock, valued at approximately $305,000.

A number of other large investors have also recently bought and sold shares of HOOD. Bamco Inc. NY acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $298,000. Ameriprise Financial Inc. grew its position in Robinhood Markets by 5.6% in the fourth quarter. Ameriprise Financial Inc. now owns 1,381,719 shares of the company's stock valued at $51,483,000 after purchasing an additional 73,829 shares in the last quarter. AXA S.A. increased its stake in Robinhood Markets by 1,562.7% in the 4th quarter. AXA S.A. now owns 153,248 shares of the company's stock valued at $5,710,000 after buying an additional 144,031 shares during the last quarter. Absolute Gestao de Investimentos Ltda. acquired a new stake in Robinhood Markets in the 4th quarter valued at $439,000. Finally, Alight Capital Management LP bought a new stake in Robinhood Markets during the 4th quarter worth about $2,608,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Performance

HOOD stock opened at $61.76 on Friday. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The company's 50-day simple moving average is $45.27 and its 200 day simple moving average is $43.54. The company has a market capitalization of $54.69 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Robinhood Markets's revenue was up 50.0% on a year-over-year basis. During the same quarter last year, the business earned $0.18 EPS. On average, analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 107,608 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $60.41, for a total value of $6,500,599.28. Following the transaction, the director now directly owns 7,863 shares of the company's stock, valued at $475,003.83. This trade represents a 93.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the transaction, the insider now owns 706,642 shares of the company's stock, valued at $42,942,634.34. The trade was a 6.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,947,622 shares of company stock valued at $89,994,656 over the last quarter. 14.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Compass Point started coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective for the company. Morgan Stanley increased their price target on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $54.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday. The Goldman Sachs Group increased their price objective on Robinhood Markets from $56.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Piper Sandler raised their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $55.41.

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.

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.