Robinhood Markets, Inc. (NASDAQ:HOOD) is Steadview Capital Management LLC's 2nd Largest Position

Steadview Capital Management LLC boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 41.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,087,650 shares of the company's stock after buying an additional 612,550 shares during the quarter. Robinhood Markets makes up about 18.9% of Steadview Capital Management LLC's holdings, making the stock its 2nd largest position. Steadview Capital Management LLC owned 0.24% of Robinhood Markets worth $86,888,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of HOOD. FMR LLC boosted its stake in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC boosted its stake in Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after acquiring an additional 273,860 shares in the last quarter. Geode Capital Management LLC boosted its stake in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after acquiring an additional 555,299 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after acquiring an additional 3,091,514 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Robinhood Markets by 0.5% in the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after acquiring an additional 52,700 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Performance

NASDAQ:HOOD traded down $0.36 during mid-day trading on Friday, reaching $98.34. The stock had a trading volume of 60,149,672 shares, compared to its average volume of 30,266,921. The firm has a market capitalization of $87.08 billion, a price-to-earnings ratio of 55.88, a PEG ratio of 5.32 and a beta of 2.36. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $101.50. The business has a 50 day simple moving average of $73.48 and a 200 day simple moving average of $55.32.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued 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). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same period last year, the business posted $0.18 earnings per share. The company's quarterly revenue was up 50.0% on a year-over-year basis. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the completion of the transaction, the director directly owned 7,863 shares of the company's stock, valued at approximately $506,848.98. This trade represents a 98.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,472,702 shares of company stock valued at $179,396,832. Corporate insiders own 14.47% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on HOOD. Morgan Stanley upped their price objective on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. increased their target price 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. Compass Point increased their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Barclays increased their target price on shares of Robinhood Markets from $57.00 to $102.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Mizuho increased their target price on shares of Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. One investment 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. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average target price of $76.06.

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.