Rafferty Asset Management LLC Purchases Shares of 5,387 Robinhood Markets, Inc. (NASDAQ:HOOD)

Rafferty Asset Management LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,387 shares of the company's stock, valued at approximately $201,000.

Several other institutional investors have also added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets during the fourth quarter valued at about $26,000. CoreCap Advisors LLC boosted its holdings in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in shares of Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares during the period. Colonial Trust Co SC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth about $34,000. Finally, Silicon Valley Capital Partners purchased a new stake in shares of Robinhood Markets during the fourth quarter worth about $37,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HOOD has been the subject of a number of analyst reports. 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. The Goldman Sachs Group increased their target price on shares of Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Compass Point initiated coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They set a "buy" rating and a $61.00 target price for the company. Piper Sandler increased their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Mizuho increased their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.41.

Robinhood Markets Price Performance

Shares of HOOD opened at $63.17 on Friday. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The company has a 50-day simple moving average of $47.76 and a two-hundred day simple moving average of $44.89. The firm has a market capitalization of $55.93 billion, a PE ratio of 40.24, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same period in the prior year, the business posted $0.18 EPS. Robinhood Markets's revenue for the quarter was up 50.0% on a year-over-year basis. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the transaction, the chief technology officer now directly owns 5,853 shares of the company's stock, valued at $201,987.03. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,192,688 shares of company stock valued at $107,043,646. Corporate insiders own 14.47% of the company's stock.

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.

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