Simplicity Wealth LLC Buys Shares of 53,794 Robinhood Markets, Inc. (NASDAQ:HOOD)

Simplicity Wealth LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 53,794 shares of the company's stock, valued at approximately $2,239,000.

A number of other large investors have also bought and sold shares of the business. FMR LLC grew its stake in shares of 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 acquiring an additional 26,107,934 shares in the last quarter. Norges Bank bought a new position in shares of Robinhood Markets during the 4th quarter worth approximately $329,598,000. GQG Partners LLC bought a new position in shares of Robinhood Markets during the 4th quarter worth approximately $302,325,000. Artisan Partners Limited Partnership bought a new position in shares of Robinhood Markets during the 4th quarter worth approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Robinhood Markets by 335.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after acquiring an additional 3,994,745 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. Redburn Atlantic reissued a "sell" rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Barclays cut their price objective on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Needham & Company LLC reissued a "buy" rating and issued a $71.00 price objective on shares of Robinhood Markets in a report on Tuesday, May 27th. Finally, Morgan Stanley increased their price objective on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $57.17.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $74.29, for a total value of $31,078,330.02. Following the completion of the transaction, the director now owns 7,863 shares of the company's stock, valued at $584,142.27. The trade was a 98.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,650,974 shares of company stock valued at $142,977,123. 14.47% of the stock is currently owned by corporate insiders.

Robinhood Markets Price Performance

Robinhood Markets stock traded down $1.24 during mid-day trading on Friday, hitting $72.60. 27,696,951 shares of the company's stock traded hands, compared to its average volume of 27,391,101. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $77.80. The stock has a market cap of $64.28 billion, a price-to-earnings ratio of 46.24, a P/E/G ratio of 1.05 and a beta of 2.25. The firm has a 50 day simple moving average of $56.22 and a two-hundred day simple moving average of $48.73.

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

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.