Robinhood Markets, Inc. (NASDAQ:HOOD) Position Increased by Steadview Capital Management LLC

Steadview Capital Management LLC increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 41.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,087,650 shares of the company's stock after acquiring an additional 612,550 shares during the period. Robinhood Markets makes up about 18.9% of Steadview Capital Management LLC's portfolio, making the stock its 2nd largest holding. Steadview Capital Management LLC owned 0.24% of Robinhood Markets worth $86,888,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Whipplewood Advisors LLC grew its position in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets during the 1st quarter valued at about $30,000. CoreCap Advisors LLC grew its position in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares during the period. Creative Financial Designs Inc. ADV grew its position in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after acquiring an additional 750 shares during the period. Finally, Colonial Trust Co SC acquired a new stake in shares of Robinhood Markets during the 4th quarter valued at about $34,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of analyst reports. The Goldman Sachs Group raised their target price on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Needham & Company LLC restated a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a research report on Tuesday, May 27th. JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Compass Point raised their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, KeyCorp raised their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $76.06.

Robinhood Markets Stock Down 0.4%

NASDAQ:HOOD traded down $0.36 on Friday, reaching $98.34. The company's stock had a trading volume of 60,149,672 shares, compared to its average volume of 30,346,786. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $101.50. The firm has a market cap of $87.08 billion, a price-to-earnings ratio of 55.88, a price-to-earnings-growth ratio of 5.25 and a beta of 2.36. The stock has a 50 day moving average price of $73.48 and a 200 day moving average price of $55.53.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 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 business had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same quarter in the prior year, the firm earned $0.18 EPS. Robinhood Markets's revenue for the quarter was up 50.0% compared to the same quarter last year. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $93.88, for a total value of $2,347,000.00. Following the sale, the insider owned 816,887 shares of the company's stock, valued at $76,689,351.56. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $93.51, for a total value of $548,342.64. Following the completion of the sale, the chief technology officer directly owned 8,908 shares in the company, valued at approximately $832,987.08. The trade was a 39.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,472,702 shares of company stock valued at $179,396,832. 14.47% of the stock is currently owned by company insiders.

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.