KLP Kapitalforvaltning AS Buys 36,200 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

KLP Kapitalforvaltning AS increased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 13.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 301,499 shares of the company's stock after buying an additional 36,200 shares during the period. KLP Kapitalforvaltning AS's holdings in Robinhood Markets were worth $12,548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HOOD. FMR LLC raised its holdings in Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Norges Bank bought a new stake in shares of Robinhood Markets in the 4th quarter valued at about $329,598,000. Artisan Partners Limited Partnership bought a new stake in shares of Robinhood Markets in the 4th quarter valued at about $152,949,000. Price T Rowe Associates Inc. MD increased its stake 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 acquiring an additional 3,994,745 shares during the last quarter. Finally, Wealthquest Corp bought a new stake in shares of Robinhood Markets in the 1st quarter valued at about $156,193,000. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Christopher D. Payne acquired 26,500 shares of the business's stock in a transaction dated Friday, June 13th. The stock was bought at an average price of $74.19 per share, with a total value of $1,966,035.00. Following the acquisition, the director owned 26,500 shares in the company, valued at $1,966,035. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the 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 completion of the sale, the chief technology officer directly owned 8,908 shares of the company's stock, valued at approximately $832,987.08. The trade was a 39.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,696,644 shares of company stock worth $218,696,575 in the last quarter. 14.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on HOOD shares. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Cantor Fitzgerald upped their price target on Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. The Goldman Sachs Group upped their price target on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Piper Sandler increased their target price on Robinhood Markets from $70.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Citigroup increased their target price on Robinhood Markets from $50.00 to $100.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $85.29.

Robinhood Markets Price Performance

NASDAQ:HOOD traded up $2.92 during trading hours on Friday, reaching $104.85. 35,546,767 shares of the stock were exchanged, compared to its average volume of 55,217,080. The stock has a market cap of $92.84 billion, a PE ratio of 59.57, a PEG ratio of 5.35 and a beta of 2.36. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $113.44. The firm has a 50 day moving average of $82.95 and a 200 day moving average of $59.84.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company's quarterly revenue was up 50.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.