Allianz Asset Management GmbH Purchases 753,868 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Allianz Asset Management GmbH boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 3,427.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 775,865 shares of the company's stock after buying an additional 753,868 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.09% of Robinhood Markets worth $32,292,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Natixis Advisors LLC boosted its holdings in Robinhood Markets by 9.7% in the 4th quarter. Natixis Advisors LLC now owns 37,261 shares of the company's stock valued at $1,388,000 after purchasing an additional 3,281 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Robinhood Markets during the 4th quarter worth approximately $314,000. American Century Companies Inc. raised its holdings in Robinhood Markets by 73.4% in the 4th quarter. American Century Companies Inc. now owns 90,922 shares of the company's stock valued at $3,388,000 after acquiring an additional 38,495 shares during the last quarter. Sei Investments Co. raised its holdings in Robinhood Markets by 109.2% in the 4th quarter. Sei Investments Co. now owns 654,345 shares of the company's stock valued at $24,382,000 after acquiring an additional 341,527 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Robinhood Markets by 1,713.3% during the 4th quarter. Prudential Financial Inc. now owns 647,219 shares of the company's stock valued at $24,115,000 after buying an additional 611,526 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the stock in a transaction dated 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 transaction, the insider directly owned 228,621 shares of the company's stock, valued at $16,035,476.94. This trade represents a 31.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,702,497 shares of company stock worth $218,984,952. 14.47% of the stock is currently owned by company insiders.

Robinhood Markets Trading Down 0.1%

HOOD traded down $0.15 during trading on Thursday, hitting $101.93. The stock had a trading volume of 26,607,516 shares, compared to its average volume of 55,143,304. The firm has a market cap of $90.25 billion, a PE ratio of 57.92, a P/E/G ratio of 5.21 and a beta of 2.36. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $113.44. The company has a 50 day simple moving average of $82.09 and a 200-day simple moving average of $59.27.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The company had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The business's revenue for the quarter was up 50.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their price target 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. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 27th. Piper Sandler raised their price target on shares of Robinhood Markets from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Compass Point increased their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and an average price target of $85.29.

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.