Lord Abbett & CO. LLC increased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 852.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,596,117 shares of the company's stock after acquiring an additional 1,428,591 shares during the quarter. Lord Abbett & CO. LLC owned about 0.18% of Robinhood Markets worth $66,430,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC grew its position in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management raised its holdings in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets in the 1st quarter worth approximately $30,000. CoreCap Advisors LLC lifted its position in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after acquiring an additional 550 shares during the period. Finally, Pandora Wealth Inc. acquired a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $33,000. Institutional investors own 93.27% of the company's stock.
Insider Activity
In other news, Director Baiju Bhatt sold 1,568,421 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 385,485 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total value of $39,280,921.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,644,685 shares of company stock worth $430,085,957. Corporate insiders own 14.47% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Morgan Stanley increased their target price on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Compass Point raised their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Piper Sandler increased their target price on shares of Robinhood Markets from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Needham & Company LLC lifted their price target on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $100.31.
View Our Latest Research Report on HOOD
Robinhood Markets Stock Performance
NASDAQ HOOD opened at $108.62 on Thursday. The stock has a market capitalization of $96.53 billion, a P/E ratio of 55.14, a price-to-earnings-growth ratio of 4.35 and a beta of 2.36. Robinhood Markets, Inc. has a 52 week low of $18.57 and a 52 week high of $117.70. The stock has a fifty day moving average of $93.81 and a 200-day moving average of $65.27.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. The firm had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same period last year, the company earned $0.21 earnings per share. The company's revenue was up 45.0% on a year-over-year basis. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.
Robinhood Markets Company Profile
(
Free Report)
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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