17,671 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Bought by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,671 shares of the company's stock, valued at approximately $735,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $588,000. World Investment Advisors purchased a new stake in Robinhood Markets during the fourth quarter worth $253,000. Wells Fargo & Company MN grew its position in Robinhood Markets by 201.1% during the fourth quarter. Wells Fargo & Company MN now owns 298,990 shares of the company's stock valued at $11,140,000 after buying an additional 199,678 shares during the period. Envestnet Asset Management Inc. increased its holdings in Robinhood Markets by 80.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 252,766 shares of the company's stock valued at $9,418,000 after buying an additional 112,807 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Robinhood Markets by 4.7% in the fourth quarter. Federated Hermes Inc. now owns 30,386 shares of the company's stock worth $1,132,000 after acquiring an additional 1,356 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group raised their target price on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Piper Sandler increased their price target on Robinhood Markets from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. KeyCorp upped their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Cantor Fitzgerald increased their target price on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus price target of $96.29.

Robinhood Markets Price Performance

HOOD stock opened at $111.23 on Friday. Robinhood Markets, Inc. has a 1 year low of $16.68 and a 1 year high of $113.44. The firm has a market capitalization of $98.49 billion, a PE ratio of 56.46, a price-to-earnings-growth ratio of 4.03 and a beta of 2.36. The business has a 50 day simple moving average of $90.33 and a 200-day simple moving average of $63.55.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. The company had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same period in the prior year, the business earned $0.21 EPS. The firm's quarterly revenue was up 45.0% on a year-over-year basis. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 40,131 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $104.71, for a total value of $4,202,117.01. Following the transaction, the insider directly owned 120,408 shares in the company, valued at $12,607,921.68. The trade was a 25.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 10,518 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $100.10, for a total transaction of $1,052,851.80. The disclosure for this sale can be found here. Insiders sold 4,752,293 shares of company stock valued at $436,586,556 in the last quarter. Insiders own 14.47% of the company's stock.

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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