Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 784,187 shares of the company's stock after acquiring an additional 37,640 shares during the period. Rhumbline Advisers owned approximately 0.09% of Robinhood Markets worth $32,638,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Robinhood Markets by 184.8% in 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 in the last quarter. Newlands Management Operations LLC lifted its holdings in shares of Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after buying an additional 273,860 shares during the period. Geode Capital Management LLC grew its holdings in Robinhood Markets by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after acquiring an additional 555,299 shares during the period. Renaissance Technologies LLC grew its holdings in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after acquiring an additional 3,091,514 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Robinhood Markets by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock worth $398,667,000 after acquiring an additional 52,700 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HOOD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. The Goldman Sachs Group boosted their price objective on shares of Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $71.00 target price on shares of Robinhood Markets in a report on Tuesday, May 27th. Citigroup decreased their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus price target of $55.41.

Robinhood Markets Stock Up 3.3%

Shares of HOOD traded up $2.37 during trading hours on Friday, reaching $74.88. 61,705,294 shares of the company traded hands, compared to its average volume of 26,985,410. The stock has a market capitalization of $66.30 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. The stock has a fifty day simple moving average of $51.92 and a 200 day simple moving average of $47.11. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $80.24.

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

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction dated Monday, April 7th. The shares were 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 $201,987.03. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the sale, the insider now directly owns 228,621 shares in the company, valued at $16,035,476.94. The trade was a 31.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,226,771 shares of company stock worth $111,467,774. Company insiders own 14.47% of the company's stock.

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.