Praxis Investment Management Inc. Acquires 17,040 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Praxis Investment Management Inc. lifted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 100.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,060 shares of the company's stock after buying an additional 17,040 shares during the period. Praxis Investment Management Inc.'s holdings in Robinhood Markets were worth $1,418,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. MetLife Investment Management LLC lifted its stake in Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after purchasing an additional 171 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after purchasing an additional 233 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after purchasing an additional 265 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock valued at $142,000 after purchasing an additional 277 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Robinhood Markets by 28.6% in the 1st quarter. Blue Trust Inc. now owns 1,998 shares of the company's stock valued at $83,000 after purchasing an additional 444 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HOOD shares. Citigroup cut their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Mizuho raised their price objective on shares of Robinhood Markets from $65.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, KeyCorp cut their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and an average price target of $58.00.

Robinhood Markets Trading Up 0.2%

NASDAQ:HOOD traded up $0.15 during mid-day trading on Friday, hitting $78.50. 37,155,167 shares of the company's stock were exchanged, compared to its average volume of 27,666,698. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $79.38. The firm has a market capitalization of $69.51 billion, a P/E ratio of 44.60, a PEG ratio of 4.63 and a beta of 2.25. The company has a 50 day simple moving average of $59.90 and a 200-day simple moving average of $50.09.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. Robinhood Markets's revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total value of $957,750.00. Following the transaction, the insider now owns 822,825 shares in the company, valued at $31,522,425.75. The trade was a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $34.51, for a total value of $201,987.03. Following the sale, the chief technology officer now owns 5,853 shares of the company's stock, valued at approximately $201,987.03. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,421,593 shares of company stock valued at $133,064,692. 14.47% of the stock is currently owned by company insiders.

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.