Russell Investments Group Ltd. Decreases Position in Robinhood Markets, Inc. $HOOD

Russell Investments Group Ltd. reduced its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 83.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,542 shares of the company's stock after selling 938,734 shares during the quarter. Russell Investments Group Ltd.'s holdings in Robinhood Markets were worth $7,722,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. TD Private Client Wealth LLC lifted its position in shares of Robinhood Markets by 184.4% in the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock valued at $76,000 after acquiring an additional 1,186 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of Robinhood Markets in the first quarter valued at $277,000. Burns Matteson Capital Management LLC purchased a new stake in shares of Robinhood Markets in the first quarter valued at $495,000. Deutsche Bank AG lifted its position in shares of Robinhood Markets by 137.6% in the first quarter. Deutsche Bank AG now owns 1,761,767 shares of the company's stock valued at $73,325,000 after acquiring an additional 1,020,286 shares in the last quarter. Finally, Fiduciary Alliance LLC purchased a new stake in shares of Robinhood Markets in the first quarter valued at $2,177,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HOOD. KeyCorp upped their price objective on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. increased their target price on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Morgan Stanley increased their target price on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Needham & Company LLC increased their target price on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, JMP Securities increased their target price on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average price target of $100.31.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $107.50 on Wednesday. The firm has a market capitalization of $95.53 billion, a PE ratio of 54.57, a P/E/G ratio of 4.39 and a beta of 2.36. The business has a 50-day moving average of $96.89 and a two-hundred day moving average of $67.07. Robinhood Markets, Inc. has a 12 month low of $18.71 and a 12 month high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced 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 company had revenue of $989.00 million during 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%.The firm's revenue was up 45.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 earnings per share. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 40,131 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $104.71, for a total transaction of $4,202,117.01. Following the completion of the sale, the insider directly owned 120,408 shares in the company, valued at $12,607,921.68. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $104.23, for a total value of $2,605,750.00. Following the sale, the insider owned 566,887 shares of the company's stock, valued at $59,086,632.01. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,644,685 shares of company stock valued at $448,881,884 over the last three months. 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.

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