Wealthquest Corp bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,752,828 shares of the company's stock, valued at approximately $156,193,000. Robinhood Markets accounts for about 15.0% of Wealthquest Corp's holdings, making the stock its 2nd biggest holding. Wealthquest Corp owned about 0.42% of Robinhood Markets at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its position in 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 buying an additional 26,107,934 shares during the period. Newlands Management Operations LLC lifted its position in shares of Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after purchasing an additional 273,860 shares during the period. Geode Capital Management LLC lifted its position in shares of Robinhood Markets by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after purchasing an additional 555,299 shares during the period. Renaissance Technologies LLC lifted its position in shares of Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after purchasing an additional 3,091,514 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of Robinhood Markets by 0.5% in the 4th 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. 93.27% of the stock is owned by institutional investors.
Insider Transactions at Robinhood Markets
In other news, insider Steven M. Quirk sold 92,257 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total value of $7,838,154.72. Following the transaction, the insider now directly owns 136,364 shares of the company's stock, valued at approximately $11,585,485.44. This trade represents a 40.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the transaction, the chief technology officer now directly owns 5,853 shares in the company, valued at approximately $201,987.03. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,472,691 shares of company stock valued at $139,178,726. Corporate insiders own 14.47% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have commented on HOOD shares. KeyCorp decreased their price target on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Mizuho increased their price objective on Robinhood Markets from $65.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday, June 17th. Compass Point raised their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday. Finally, JPMorgan Chase & Co. raised their price target on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.29.
Check Out Our Latest Research Report on Robinhood Markets
Robinhood Markets Trading Down 1.8%
HOOD traded down $1.49 during midday trading on Friday, hitting $83.03. 36,890,636 shares of the company traded hands, compared to its average volume of 28,040,111. The company has a market capitalization of $73.52 billion, a price-to-earnings ratio of 47.18, a PEG ratio of 4.99 and a beta of 2.25. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $85.55. The business has a 50 day simple moving average of $63.85 and a two-hundred day simple moving average of $51.47.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business's revenue for the quarter was up 50.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.
About Robinhood Markets
(
Free Report)
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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