DAVENPORT & Co LLC Invests $436,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

DAVENPORT & Co LLC acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,480 shares of the company's stock, valued at approximately $436,000.

A number of other hedge funds have also recently made changes to their positions in HOOD. FMR LLC boosted its stake in shares of Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares during the period. Norges Bank bought a new position in shares of Robinhood Markets in the fourth quarter worth about $329,598,000. GQG Partners LLC bought a new position in shares of Robinhood Markets in the fourth quarter worth about $302,325,000. Artisan Partners Limited Partnership bought a new position in shares of Robinhood Markets in the fourth quarter worth about $152,949,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after acquiring an additional 3,994,745 shares during the period. Institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Barclays dropped their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. Citigroup increased their price target on Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Mizuho increased their price target on Robinhood Markets from $80.00 to $99.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $72.71.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $77.82, for a total transaction of $456,336.48. Following the transaction, the chief technology officer directly owned 14,772 shares in the company, valued at $1,149,557.04. This trade represents a 28.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven M. Quirk sold 92,257 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total value of $7,838,154.72. Following the transaction, the insider owned 136,364 shares in the company, valued at $11,585,485.44. The trade was a 40.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,441,838 shares of company stock valued at $176,501,489. Company insiders own 19.95% of the company's stock.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $93.46 on Tuesday. The business's 50 day moving average price is $69.70 and its 200-day moving average price is $53.95. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $100.88. The company has a market cap of $82.76 billion, a price-to-earnings ratio of 53.10, a PEG ratio of 4.80 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share 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 business had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company's quarterly revenue was up 50.0% compared to the same quarter last year. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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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