Kovitz Investment Group Partners LLC boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 56.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,763 shares of the company's stock after buying an additional 8,542 shares during the period. Kovitz Investment Group Partners LLC's holdings in Robinhood Markets were worth $989,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lord Abbett & CO. LLC grew its position in Robinhood Markets by 852.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,596,117 shares of the company's stock valued at $66,430,000 after buying an additional 1,428,591 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Robinhood Markets during the 1st quarter valued at about $886,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Robinhood Markets by 125.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock valued at $799,000 after purchasing an additional 10,703 shares in the last quarter. National Pension Service bought a new position in shares of Robinhood Markets during the 1st quarter valued at about $35,349,000. Finally, Prudential PLC boosted its position in shares of Robinhood Markets by 301.9% during the 1st quarter. Prudential PLC now owns 41,696 shares of the company's stock valued at $1,735,000 after purchasing an additional 31,320 shares in the last quarter. Institutional investors own 93.27% of the company's stock.
Robinhood Markets Price Performance
Shares of HOOD opened at $107.50 on Wednesday. Robinhood Markets, Inc. has a one year low of $18.71 and a one year high of $117.70. The company has a 50-day moving average of $96.89 and a two-hundred day moving average of $67.07. The stock has a market cap of $95.53 billion, a price-to-earnings ratio of 54.57, a PEG ratio of 4.39 and a beta of 2.36.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same period last year, the company posted $0.21 earnings per share. The business's revenue for the quarter was up 45.0% on a year-over-year basis. Analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on HOOD shares. Compass Point raised their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Barclays raised their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. KeyCorp raised their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Keefe, Bruyette & Woods raised their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Finally, Redburn Atlantic restated a "sell" rating and set a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $100.31.
Get Our Latest Research Report on HOOD
Insiders Place Their Bets
In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $104.23, for a total value of $2,605,750.00. Following the completion of the sale, the insider directly owned 566,887 shares of the company's stock, valued at $59,086,632.01. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 40,131 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $104.71, for a total transaction of $4,202,117.01. Following the completion of the sale, the insider directly owned 120,408 shares of the company's stock, valued at $12,607,921.68. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,644,685 shares of company stock valued at $448,881,884 over the last ninety days. Insiders own 19.95% of the company's stock.
About Robinhood Markets
(
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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