Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Position Increased by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd raised its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 12.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 499,972 shares of the company's stock after buying an additional 53,372 shares during the quarter. Robinhood Markets comprises 11.7% of BOCHK Asset Management Ltd's portfolio, making the stock its 3rd biggest holding. BOCHK Asset Management Ltd owned approximately 0.06% of Robinhood Markets worth $20,809,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC boosted its holdings in shares of Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock worth $368,000 after purchasing an additional 233 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after purchasing an additional 265 shares during the period. Blue Trust Inc. boosted its holdings in shares of Robinhood Markets by 28.6% in the 1st quarter. Blue Trust Inc. now owns 1,998 shares of the company's stock worth $83,000 after purchasing an additional 444 shares during the period. Finally, City State Bank boosted its holdings in shares of Robinhood Markets by 94.0% in the 1st quarter. City State Bank now owns 970 shares of the company's stock worth $40,000 after purchasing an additional 470 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Down 2.3%

Shares of NASDAQ:HOOD traded down $2.19 on Tuesday, reaching $91.27. The company had a trading volume of 59,630,724 shares, compared to its average volume of 29,808,155. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $100.88. The firm's 50 day simple moving average is $69.70 and its 200-day simple moving average is $53.95. The firm has a market capitalization of $80.82 billion, a PE ratio of 51.86, a PEG ratio of 4.80 and a beta of 2.36.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Needham & Company LLC reiterated a "buy" rating and issued a $71.00 target price on shares of Robinhood Markets in a report on Tuesday, May 27th. Morgan Stanley lifted their target price on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. JMP Securities reissued a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Finally, Compass Point raised their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $72.71.

Insider Activity

In related news, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction 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 transaction, the insider directly owned 228,621 shares in the company, valued at $16,035,476.94. The trade was a 31.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,466,838 shares of company stock worth $178,848,489. 19.95% of the stock is currently owned by company insiders.

About Robinhood Markets

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.