Principal Financial Group Inc. Buys 144,725 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Principal Financial Group Inc. lifted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 124.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 261,457 shares of the company's stock after buying an additional 144,725 shares during the period. Principal Financial Group Inc.'s holdings in Robinhood Markets were worth $10,882,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp raised its position in Robinhood Markets by 1,631.5% in the fourth quarter. Jones Financial Companies Lllp now owns 3,463 shares of the company's stock valued at $129,000 after purchasing an additional 3,263 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Robinhood Markets during the fourth quarter worth approximately $2,367,000. Independent Advisor Alliance acquired a new stake in Robinhood Markets during the fourth quarter worth approximately $268,000. HighTower Advisors LLC grew its stake in Robinhood Markets by 57.6% in the fourth quarter. HighTower Advisors LLC now owns 47,232 shares of the company's stock valued at $1,760,000 after acquiring an additional 17,264 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $226,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Price Performance

HOOD opened at $98.34 on Monday. The stock's 50 day simple moving average is $73.48 and its 200 day simple moving average is $55.53. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $101.50. The firm has a market cap of $87.08 billion, a price-to-earnings ratio of 55.88, a PEG ratio of 5.25 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $917.12 million. During the same quarter last year, the business posted $0.18 EPS. The company's quarterly revenue was up 50.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In other news, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total value of $26,966,067.48. Following the completion of the transaction, the director owned 7,863 shares in the company, valued at $506,848.98. This trade represents a 98.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the transaction, the insider owned 228,621 shares of the company's stock, valued at $16,035,476.94. This represents a 31.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,472,702 shares of company stock worth $179,396,832 in the last quarter. 14.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of recent research reports. The Goldman Sachs Group raised their target price on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a report on Monday, July 7th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and set a $71.00 price objective on shares of Robinhood Markets in a research note on Tuesday, May 27th. Finally, Compass Point boosted their price objective on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $76.06.

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.

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