Harbor Investment Advisory LLC Has $597,000 Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Harbor Investment Advisory LLC increased its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 88.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,345 shares of the company's stock after purchasing an additional 6,745 shares during the period. Harbor Investment Advisory LLC's holdings in Robinhood Markets were worth $597,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. FMR LLC boosted its position in Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the period. Norges Bank acquired a new position in Robinhood Markets during the fourth quarter worth about $329,598,000. GQG Partners LLC bought a new stake in shares of Robinhood Markets in the 4th quarter worth approximately $302,325,000. Artisan Partners Limited Partnership acquired a new stake in shares of Robinhood Markets during the 4th quarter valued at $152,949,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after purchasing an additional 3,994,745 shares during the period. Institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on HOOD shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Robinhood Markets from $54.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. JMP Securities reiterated a "market outperform" rating and issued a $70.00 price objective on shares of Robinhood Markets in a report on Thursday, May 1st. Barclays dropped their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Citigroup cut their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Finally, Raymond James began coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They issued a "market perform" rating on the stock. Six equities 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.41.

Robinhood Markets Price Performance

Shares of HOOD traded up $0.24 during trading hours on Thursday, hitting $72.51. The stock had a trading volume of 64,009,312 shares, compared to its average volume of 26,787,969. The stock has a market capitalization of $64.20 billion, a price-to-earnings ratio of 46.19, a P/E/G ratio of 1.05 and a beta of 2.25. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $76.72. The company's fifty day moving average is $51.30 and its two-hundred day moving average is $46.85.

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

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $43.36, for a total transaction of $253,786.08. Following the sale, the chief technology officer now owns 11,706 shares of the company's stock, valued at $507,572.16. This represents a 33.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 223,528 shares of the business's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the completion of the transaction, the director now directly owns 5,042 shares of the company's stock, valued at approximately $217,864.82. This represents a 97.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,096,884 shares of company stock worth $102,320,000. Insiders own 14.47% of the company's stock.

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.