Vanguard Group Inc. Has $3.09 Billion Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Vanguard Group Inc. increased its stake in Robinhood Markets by 8.6%, owning over 74 million shares valued at approximately $3.1 billion as of the latest SEC filing.
• Several institutional investors, including TD Private Client Wealth LLC and Invesco Ltd., have also significantly increased their holdings in Robinhood Markets, demonstrating strong institutional interest in the company.
• Insider selling activity included Daniel Martin Gallagher, Jr. selling 225,000 shares for about $22.5 million, reflecting a 27.54% reduction in his stake, which could indicate insider concerns about stock performance.

Vanguard Group Inc. boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 74,241,080 shares of the company's stock after acquiring an additional 5,874,701 shares during the period. Vanguard Group Inc. owned 8.38% of Robinhood Markets worth $3,089,914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in HOOD. Westwood Holdings Group Inc. acquired a new stake in shares of Robinhood Markets during the 1st quarter worth about $735,000. Atria Wealth Solutions Inc. boosted its stake in shares of Robinhood Markets by 11.6% during the 1st quarter. Atria Wealth Solutions Inc. now owns 43,720 shares of the company's stock worth $1,820,000 after purchasing an additional 4,546 shares during the last quarter. Levin Capital Strategies L.P. acquired a new stake in shares of Robinhood Markets during the 1st quarter worth about $272,000. Encompass More Asset Management acquired a new stake in shares of Robinhood Markets during the 1st quarter worth about $629,000. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Robinhood Markets during the 1st quarter worth about $1,849,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HOOD. Deutsche Bank Aktiengesellschaft raised their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Citigroup raised their target price on shares of Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Needham & Company LLC raised their target price on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $96.29.

Robinhood Markets Stock Up 1.3%

Robinhood Markets stock traded up $1.47 during midday trading on Tuesday, hitting $115.09. The company's stock had a trading volume of 21,931,662 shares, compared to its average volume of 41,696,621. The stock's 50-day moving average price is $92.24 and its 200-day moving average price is $64.62. Robinhood Markets, Inc. has a 12 month low of $18.36 and a 12 month high of $117.70. The company has a market capitalization of $102.27 billion, a PE ratio of 58.37, a price-to-earnings-growth ratio of 4.37 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $104.73, for a total value of $614,136.72. Following the completion of the sale, the chief technology officer owned 3,044 shares of the company's stock, valued at approximately $318,798.12. The trade was a 65.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 10,518 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $100.10, for a total value of $1,052,851.80. The disclosure for this sale can be found here. Insiders have sold a total of 4,644,685 shares of company stock worth $430,085,957 in the last quarter. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets 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.