IFM Investors Pty Ltd Increases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

IFM Investors Pty Ltd lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 9.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,698 shares of the company's stock after buying an additional 9,659 shares during the period. IFM Investors Pty Ltd's holdings in Robinhood Markets were worth $4,607,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC increased its holdings in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after buying an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC increased its holdings in Robinhood Markets by 1.1% in the fourth 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. Geode Capital Management LLC increased its holdings in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after buying an additional 555,299 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after buying an additional 3,091,514 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Robinhood Markets by 0.5% in the fourth 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. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company's stock in a transaction that occurred 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 sale, the chief technology officer directly owned 14,772 shares in the company, valued at approximately $1,149,557.04. The trade was a 28.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,441,838 shares of company stock worth $176,501,489. Insiders own 14.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HOOD. The Goldman Sachs Group boosted their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research note on Monday. Redburn Atlantic reissued a "sell" rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. JMP Securities reissued a "market outperform" rating and set a $70.00 target price on shares of Robinhood Markets in a research note on Thursday, May 1st. Cantor Fitzgerald boosted their target price on shares of Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Morgan Stanley boosted their target price on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. One investment 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $72.71.

Robinhood Markets Stock Down 1.0%

NASDAQ:HOOD traded down $0.94 on Monday, hitting $93.46. The stock had a trading volume of 49,319,104 shares, compared to its average volume of 29,610,837. The stock 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. The company has a fifty day moving average price of $68.81 and a two-hundred day moving average price of $53.57. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $100.88.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its 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). The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.