Price T Rowe Associates Inc. MD Acquires 3,994,745 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Price T Rowe Associates Inc. MD grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 335.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,185,225 shares of the company's stock after purchasing an additional 3,994,745 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.59% of Robinhood Markets worth $193,202,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HOOD. FMR LLC grew its holdings in shares of 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 last quarter. Norges Bank bought a new stake in Robinhood Markets during the 4th quarter worth approximately $329,598,000. GQG Partners LLC acquired a new position in Robinhood Markets in the 4th quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership bought a new position in shares of Robinhood Markets during the fourth quarter valued at $152,949,000. Finally, Renaissance Technologies LLC grew its stake in shares of Robinhood Markets by 34.4% in the fourth 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 last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Price Performance

HOOD stock traded down $1.72 during trading on Wednesday, reaching $47.65. The company had a trading volume of 16,105,818 shares, compared to its average volume of 25,024,714. The business has a 50 day moving average of $43.15 and a 200 day moving average of $41.22. The company has a market cap of $42.19 billion, a P/E ratio of 30.30, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HOOD. Raymond James assumed coverage on Robinhood Markets in a research report on Wednesday, February 5th. They issued a "market perform" rating on the stock. Compass Point began coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective for the company. JPMorgan Chase & Co. increased their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Mizuho increased their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Finally, JMP Securities reduced their target price on shares of Robinhood Markets from $77.00 to $70.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $53.88.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $34.51, for a total value of $201,987.03. Following the sale, the chief technology officer now directly owns 5,853 shares of the company's stock, valued at approximately $201,987.03. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Insiders have sold 2,240,437 shares of company stock valued at $110,044,137 over the last quarter. Corporate insiders own 19.95% of the company's stock.

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.