Donoghue Forlines LLC Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Donoghue Forlines LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 57,848 shares of the company's stock, valued at approximately $2,408,000. Robinhood Markets comprises 0.8% of Donoghue Forlines LLC's investment portfolio, making the stock its 20th largest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in Robinhood Markets in the 4th quarter worth approximately $588,000. Wells Fargo & Company MN grew its stake in shares of 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 last quarter. Envestnet Asset Management Inc. grew its stake in shares of Robinhood Markets by 80.6% during 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 during the last quarter. Federated Hermes Inc. grew its stake in shares of Robinhood Markets by 4.7% during the fourth quarter. Federated Hermes Inc. now owns 30,386 shares of the company's stock valued at $1,132,000 after buying an additional 1,356 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Robinhood Markets by 132.6% during the fourth quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock valued at $106,847,000 after buying an additional 1,634,599 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HOOD. JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Needham & Company LLC increased their price target on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Redburn Atlantic reiterated a "sell" rating and issued a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Compass Point increased their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Cantor Fitzgerald increased their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $96.29.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $104.23, for a total transaction of $2,605,750.00. Following the completion of the transaction, the insider directly owned 566,887 shares in the company, valued at approximately $59,086,632.01. The trade was a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 40,131 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider owned 120,408 shares of the company's stock, valued at approximately $12,607,921.68. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,752,293 shares of company stock valued at $436,586,556. Corporate insiders own 14.47% of the company's stock.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $114.63 on Friday. The company has a market cap of $101.87 billion, a P/E ratio of 58.19, a price-to-earnings-growth ratio of 4.24 and a beta of 2.36. The firm's 50 day simple moving average is $91.32 and its 200-day simple moving average is $64.00. Robinhood Markets, Inc. has a fifty-two week low of $17.55 and a fifty-two week high of $117.00.

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

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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