Kessler Investment Group LLC Invests $5.09 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

Kessler Investment Group LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 122,318 shares of the company's stock, valued at approximately $5,091,000. Robinhood Markets comprises approximately 2.5% of Kessler Investment Group LLC's holdings, making the stock its 21st largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOOD. FMR LLC raised its position 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 purchasing an additional 26,107,934 shares during the period. Norges Bank acquired a new position in Robinhood Markets during the 4th quarter worth about $329,598,000. GQG Partners LLC acquired a new position in Robinhood Markets during the 4th quarter worth about $302,325,000. Artisan Partners Limited Partnership purchased a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD grew its holdings 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 valued at $193,202,000 after purchasing an additional 3,994,745 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. JPMorgan Chase & Co. upped their price target on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Barclays cut their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Morgan Stanley upped their price target on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Finally, Compass Point upped their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.29.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $38.31, for a total value of $957,750.00. Following the sale, the insider now directly owns 822,825 shares of the company's stock, valued at $31,522,425.75. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,472,691 shares of company stock valued at $139,178,726. 14.47% of the stock is owned by company insiders.

Robinhood Markets Trading Down 1.8%

Shares of NASDAQ HOOD traded down $1.49 during trading hours on Friday, reaching $83.03. The stock had a trading volume of 36,890,636 shares, compared to its average volume of 28,105,863. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $85.55. The firm has a 50-day moving average of $63.85 and a 200-day moving average of $51.57. The firm has a market cap of $73.52 billion, a price-to-earnings ratio of 47.18, a PEG ratio of 4.90 and a beta of 2.25.

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 for the quarter, missing analysts' consensus estimates 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 analyst estimates of $917.12 million. During the same period in the previous year, the business posted $0.18 earnings per share. The firm's revenue was up 50.0% compared to the same quarter last year. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS 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.