Robinhood Markets, Inc. (NASDAQ:HOOD) Stake Lifted by Vanguard Group Inc.

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. lifted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,241,080 shares of the company's stock after purchasing an additional 5,874,701 shares during the quarter. Vanguard Group Inc. owned 8.38% of Robinhood Markets worth $3,089,914,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC lifted its stake in Robinhood Markets by 184.4% in the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after acquiring an additional 1,186 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of Robinhood Markets during the 1st quarter valued at about $277,000. Burns Matteson Capital Management LLC acquired a new position in shares of Robinhood Markets during the 1st quarter valued at about $495,000. Fiduciary Alliance LLC acquired a new position in shares of Robinhood Markets during the 1st quarter valued at about $2,177,000. Finally, Invesco Ltd. grew its holdings in Robinhood Markets by 132.6% in the 4th quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock valued at $106,847,000 after buying an additional 1,634,599 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the transaction, the insider directly owned 591,887 shares of the company's stock, valued at approximately $59,170,943.39. This represents a 27.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 1,568,421 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The disclosure for this sale can be found here. Insiders sold a total of 4,752,293 shares of company stock valued at $436,586,556 over the last 90 days. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets Stock Performance

Shares of HOOD opened at $114.63 on Friday. Robinhood Markets, Inc. has a 52-week low of $17.55 and a 52-week high of $117.00. The business's fifty day moving average is $91.32 and its 200-day moving average is $64.00. The firm has a market cap of $101.87 billion, a price-to-earnings ratio of 58.19, a PEG ratio of 4.24 and a beta of 2.36.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HOOD. Cantor Fitzgerald lifted their price objective on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. 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 report on Thursday, May 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. Needham & Company LLC upped their price objective on Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Piper Sandler upped their price objective on Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.29.

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.

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