Van ECK Associates Corp Buys 86,288 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Van ECK Associates Corp grew its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 134.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,469 shares of the company's stock after acquiring an additional 86,288 shares during the quarter. Van ECK Associates Corp's holdings in Robinhood Markets were worth $1,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in HOOD. Bank of New York Mellon Corp grew its stake in Robinhood Markets by 15.5% in the third quarter. Bank of New York Mellon Corp now owns 2,419,817 shares of the company's stock worth $23,738,000 after purchasing an additional 325,506 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Robinhood Markets by 12.2% in the third quarter. California Public Employees Retirement System now owns 1,009,592 shares of the company's stock valued at $9,904,000 after acquiring an additional 109,652 shares in the last quarter. Seven Eight Capital LP purchased a new stake in Robinhood Markets in the third quarter worth about $131,000. Quantbot Technologies LP grew its stake in shares of Robinhood Markets by 583.1% during the third quarter. Quantbot Technologies LP now owns 132,612 shares of the company's stock worth $1,301,000 after acquiring an additional 113,199 shares during the last quarter. Finally, Gulf International Bank UK Ltd acquired a new stake in Robinhood Markets in the 4th quarter worth approximately $764,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Down 3.1 %

HOOD stock traded down $0.55 during trading on Thursday, hitting $17.30. 50,928,875 shares of the company's stock traded hands, compared to its average volume of 14,505,082. Robinhood Markets, Inc. has a 52 week low of $7.91 and a 52 week high of $20.55. The stock has a fifty day moving average price of $17.82 and a two-hundred day moving average price of $13.40. The stock has a market capitalization of $15.13 billion, a price-to-earnings ratio of -28.97 and a beta of 1.74.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.13. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The company had revenue of $618.00 million for the quarter, compared to analyst estimates of $552.74 million. During the same period last year, the company earned ($0.57) earnings per share. The business's revenue was up 40.1% compared to the same quarter last year. As a group, equities research analysts expect that Robinhood Markets, Inc. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jason Warnick sold 5,000 shares of the business's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $12.00, for a total value of $60,000.00. Following the sale, the chief financial officer now owns 916,267 shares of the company's stock, valued at approximately $10,995,204. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total value of $4,667,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jason Warnick sold 5,000 shares of the business's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $12.00, for a total value of $60,000.00. Following the completion of the transaction, the chief financial officer now directly owns 916,267 shares of the company's stock, valued at $10,995,204. The disclosure for this sale can be found here. Insiders sold a total of 2,413,026 shares of company stock worth $38,927,267 over the last quarter. Company insiders own 20.81% of the company's stock.

Analyst Ratings Changes

HOOD has been the topic of a number of research reports. Piper Sandler increased their price objective on shares of Robinhood Markets from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Thursday. Sanford C. Bernstein initiated coverage on Robinhood Markets in a research report on Thursday, March 14th. They set an "outperform" rating and a $30.00 price target for the company. TheStreet upgraded Robinhood Markets from a "d+" rating to a "c-" rating in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $12.00 to $16.00 and gave the stock a "hold" rating in a report on Tuesday, March 19th. Finally, JMP Securities boosted their price target on shares of Robinhood Markets from $28.00 to $30.00 and gave the stock a "market outperform" rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of "Hold" and a consensus target price of $19.35.

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.