Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Holdings Increased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 30.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 328,511 shares of the company's stock after purchasing an additional 75,745 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Robinhood Markets were worth $13,673,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC increased its position in shares of Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Robinhood Markets by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after buying an additional 265 shares during the period. Blue Trust Inc. increased its stake in shares of Robinhood Markets by 28.6% during the first quarter. Blue Trust Inc. now owns 1,998 shares of the company's stock worth $83,000 after buying an additional 444 shares during the period. City State Bank increased its stake in shares of Robinhood Markets by 94.0% during the first quarter. City State Bank now owns 970 shares of the company's stock worth $40,000 after buying an additional 470 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Robinhood Markets by 21.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,676 shares of the company's stock worth $112,000 after purchasing an additional 478 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 4.1%

Shares of HOOD traded up $4.29 during trading hours on Friday, reaching $109.74. 73,491,307 shares of the company traded hands, compared to its average volume of 31,069,172. The stock has a market capitalization of $97.17 billion, a PE ratio of 62.35, a price-to-earnings-growth ratio of 5.60 and a beta of 2.36. The stock has a fifty day simple moving average of $78.73 and a 200 day simple moving average of $57.69. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $113.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results 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 for the quarter, compared to analysts' expectations of $917.12 million. During the same quarter last year, the company posted $0.18 earnings per share. The business's quarterly revenue was up 50.0% compared to the same quarter last year. Research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $93.88, for a total transaction of $2,347,000.00. Following the completion of the sale, the insider owned 816,887 shares in the company, valued at $76,689,351.56. This trade represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $93.51, for a total value of $548,342.64. Following the sale, the chief technology officer owned 8,908 shares of the company's stock, valued at approximately $832,987.08. This trade represents a 39.70% decrease in their position. 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 three months. Insiders own 14.47% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup boosted their price objective on Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday, July 7th. Mizuho boosted their price objective on Robinhood Markets from $80.00 to $99.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Cantor Fitzgerald boosted their price objective on Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. JMP Securities boosted their price objective on Robinhood Markets from $70.00 to $125.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Finally, Morgan Stanley boosted their price objective on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $85.29.

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.