15,775 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Acquired by Wellington Management Group LLP

Wellington Management Group LLP purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,775 shares of the company's stock, valued at approximately $588,000.

A number of other institutional investors have also recently bought and sold shares of HOOD. CoreCap Advisors LLC lifted its position in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after purchasing an additional 750 shares during the period. Colonial Trust Co SC bought a new stake in shares of Robinhood Markets in the fourth quarter valued at about $34,000. Silicon Valley Capital Partners bought a new stake in shares of Robinhood Markets in the fourth quarter valued at about $37,000. Finally, Bogart Wealth LLC acquired a new position in shares of Robinhood Markets during the fourth quarter worth about $37,000. Institutional investors own 93.27% of the company's stock.

Insiders Place Their Bets

In related news, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the sale, the insider now directly owns 228,621 shares of the company's stock, valued at approximately $16,035,476.94. This trade represents a 31.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total value of $957,750.00. Following the completion of the transaction, the insider now directly owns 822,825 shares in the company, valued at approximately $31,522,425.75. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,226,771 shares of company stock valued at $111,467,774 over the last ninety days. 14.47% of the stock is currently owned by company insiders.

Robinhood Markets Stock Up 3.3%

Shares of NASDAQ HOOD opened at $74.88 on Friday. The business's 50 day moving average price is $52.58 and its two-hundred day moving average price is $47.46. The company has a market cap of $66.30 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $77.80.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The firm's revenue was up 50.0% compared to the same quarter last year. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on HOOD shares. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. The Goldman Sachs Group lifted their price objective on shares of Robinhood Markets from $56.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Morgan Stanley increased their target price on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Piper Sandler lifted their price target 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 equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.41.

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.

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