Peregrine Asset Advisers Inc. Invests $2.49 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

Peregrine Asset Advisers Inc. acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 59,740 shares of the company's stock, valued at approximately $2,486,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC boosted its stake in Robinhood Markets by 1.1% in 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 during the last quarter. Geode Capital Management LLC boosted its stake in Robinhood Markets by 4.8% in 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 boosted its stake in Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after buying an additional 3,091,514 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Robinhood Markets by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock worth $398,667,000 after buying an additional 52,700 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

Shares of HOOD stock traded down $2.49 on Tuesday, hitting $101.85. 44,506,677 shares of the stock traded hands, compared to its average volume of 31,183,992. The company has a market capitalization of $90.18 billion, a PE ratio of 57.87, a PEG ratio of 5.60 and a beta of 2.36. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $113.44. The company's fifty day moving average is $78.73 and its 200 day moving average is $57.81.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same period last year, the business posted $0.18 earnings per share. Robinhood Markets's revenue for the quarter was up 50.0% on a year-over-year basis. As a group, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HOOD shares. Cantor Fitzgerald boosted their target price on Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Compass Point boosted their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. One 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, Robinhood Markets currently has an average rating of "Moderate Buy" and an average target price of $85.29.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Christopher D. Payne acquired 26,500 shares of Robinhood Markets stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $74.19 per share, with a total value of $1,966,035.00. Following the purchase, the director owned 26,500 shares in the company, valued at approximately $1,966,035. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 385,485 shares of the stock in a transaction dated Wednesday, July 16th. The stock was 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. Insiders sold a total of 2,749,630 shares of company stock valued at $221,118,663 over the last 90 days. 19.95% of the stock is owned by insiders.

Robinhood Markets 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.