Alliancebernstein L.P. Purchases 187,043 Shares of Robinhood Markets, Inc. $HOOD

Alliancebernstein L.P. boosted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 28.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 839,570 shares of the company's stock after purchasing an additional 187,043 shares during the quarter. Alliancebernstein L.P. owned 0.09% of Robinhood Markets worth $34,943,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares during the last quarter. Newlands Management Operations LLC raised its stake in shares of Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after buying an additional 273,860 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Robinhood Markets by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after buying an additional 52,700 shares in the last quarter. AGF Management Ltd. raised its stake in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after buying an additional 4,255,862 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Robinhood Markets by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock valued at $201,913,000 after buying an additional 131,620 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HOOD shares. Citigroup increased their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Morgan Stanley increased their target price on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Mizuho increased their target price on shares of Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Compass Point increased their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, The Goldman Sachs Group increased their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Robinhood Markets Stock Up 15.8%

Shares of NASDAQ:HOOD opened at $117.28 on Tuesday. Robinhood Markets, Inc. has a 12 month low of $18.83 and a 12 month high of $117.70. The company's 50-day moving average price is $104.19 and its two-hundred day moving average price is $71.88. The firm has a market cap of $104.22 billion, a P/E ratio of 59.53, a P/E/G ratio of 3.71 and a beta of 2.36.

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

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.97, for a total value of $22,493,250.00. Following the transaction, the insider owned 591,887 shares of the company's stock, valued at approximately $59,170,943.39. This trade represents a 27.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meyer Malka sold 1,093,288 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the completion of the transaction, the director directly owned 3,976,234 shares in the company, valued at $413,011,425.58. This trade represents a 21.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,767,854 shares of company stock worth $569,828,413. 19.95% of the stock is currently owned by company insiders.

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.

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