PFG Investments LLC Takes $331,000 Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

PFG Investments LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,958 shares of the company's stock, valued at approximately $331,000.

Other large investors also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Robinhood Markets by 184.8% during 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 during the last quarter. Newlands Management Operations LLC grew its stake 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 valued at $900,159,000 after purchasing an additional 273,860 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 555,299 shares during the period. Renaissance Technologies LLC raised its stake in shares of Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after purchasing an additional 3,091,514 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position 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 during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction dated 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 owns 822,825 shares in the company, valued at approximately $31,522,425.75. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,380,434 shares of company stock valued at $131,340,572. Company insiders own 19.95% of the company's stock.

Wall Street Analyst Weigh In

HOOD has been the topic of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 price target on shares of Robinhood Markets in a research report on Tuesday, May 27th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 27th. Citigroup decreased their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. JMP Securities restated a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research report on Thursday, May 1st. Finally, Mizuho upped their price objective on shares of Robinhood Markets from $65.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.00.

Robinhood Markets Trading Up 0.9%

Robinhood Markets stock traded up $0.74 during mid-day trading on Wednesday, hitting $82.75. The company's stock had a trading volume of 38,739,824 shares, compared to its average volume of 27,833,917. The stock's fifty day moving average is $61.30 and its two-hundred day moving average is $50.63. The firm has a market capitalization of $73.27 billion, a PE ratio of 47.02, a price-to-earnings-growth ratio of 4.50 and a beta of 2.25. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $85.72.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) 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 business 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 for the quarter was up 50.0% compared to the same quarter last year. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal 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.