78,096 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Purchased by Lee Johnson Capital Management LLC

Lee Johnson Capital Management LLC purchased 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 disclosure with the Securities and Exchange Commission (SEC). The firm purchased 78,096 shares of the company's stock, valued at approximately $3,250,000. Robinhood Markets accounts for about 1.7% of Lee Johnson Capital Management LLC's investment portfolio, making the stock its 21st biggest holding.

Several other institutional investors have also modified their holdings of HOOD. FMR LLC boosted its holdings in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC lifted its position in Robinhood Markets by 1.1% during the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after buying an additional 273,860 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after buying an additional 555,299 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after acquiring an additional 3,091,514 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of 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 acquiring an additional 52,700 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction dated 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 completion of the sale, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. This represents a 31.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,472,702 shares of company stock valued at $179,396,832 in the last 90 days. 14.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HOOD. JMP Securities reiterated a "market outperform" rating and issued a $70.00 target price on shares of Robinhood Markets in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Redburn Atlantic reiterated a "sell" rating and set a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. The Goldman Sachs Group increased their price target on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday. Finally, Cantor Fitzgerald raised their price target on Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and an average target price of $76.06.

Robinhood Markets Trading Down 0.4%

Robinhood Markets stock traded down $0.36 during trading on Friday, hitting $98.34. 60,149,672 shares of the company were exchanged, compared to its average volume of 30,266,921. The company has a market capitalization of $87.08 billion, a P/E ratio of 55.88, a PEG ratio of 5.32 and a beta of 2.36. The business's 50 day moving average is $73.48 and its 200 day moving average is $55.32. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $101.46.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The firm 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 company earned $0.18 EPS. The business's revenue for the quarter was up 50.0% on a year-over-year basis. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.