Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Acquired by World Investment Advisors

World Investment Advisors boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 330.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,189 shares of the company's stock after purchasing an additional 22,411 shares during the quarter. World Investment Advisors' holdings in Robinhood Markets were worth $1,215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in HOOD. FMR LLC boosted its position in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the period. Norges Bank bought a new stake in Robinhood Markets during the 4th quarter valued at $329,598,000. GQG Partners LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth $302,325,000. Artisan Partners Limited Partnership bought a new position in shares of Robinhood Markets in the fourth quarter worth $152,949,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after purchasing 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

HOOD has been the subject of several analyst reports. Citigroup raised their target price on Robinhood Markets from $50.00 to $100.00 and gave the stock a "neutral" rating in a research note on Monday. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. Cantor Fitzgerald boosted their target price on shares of Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 price target on shares of Robinhood Markets in a report on Tuesday, May 27th. Finally, Barclays cut their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $72.71.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets 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 $832,987.08. This trade represents a 39.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The disclosure for this sale can be found here. Insiders have sold 2,472,702 shares of company stock valued at $179,396,832 over the last 90 days. Company insiders own 14.47% of the company's stock.

Robinhood Markets Price Performance

Shares of HOOD traded up $3.27 during mid-day trading on Wednesday, reaching $94.54. 42,085,269 shares of the company's stock traded hands, compared to its average volume of 29,928,192. The stock's 50-day moving average is $70.54 and its two-hundred day moving average is $54.21. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $100.88. The stock has a market cap of $83.71 billion, a P/E ratio of 70.75, a P/E/G ratio of 4.64 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released 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). The business had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The business's revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. Research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

About Robinhood Markets

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.