Comerica Bank Purchases 7,444 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Comerica Bank grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 167.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,894 shares of the company's stock after purchasing an additional 7,444 shares during the period. Comerica Bank's holdings in Robinhood Markets were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MetLife Investment Management LLC increased its stake in shares of Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after buying an additional 171 shares during the period. Dorsey & Whitney Trust CO LLC lifted its position in shares of Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock worth $368,000 after purchasing an additional 233 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock valued at $142,000 after purchasing an additional 277 shares during the last quarter. Spire Wealth Management increased its position in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after buying an additional 549 shares during the period. Finally, Allworth Financial LP raised its stake in Robinhood Markets by 130.7% during the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company's stock worth $42,000 after buying an additional 643 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 107,608 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $60.41, for a total value of $6,500,599.28. Following the transaction, the director now directly owns 7,863 shares of the company's stock, valued at approximately $475,003.83. The trade was a 93.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 123,272 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the transaction, the insider now owns 298,826 shares of the company's stock, valued at approximately $16,674,490.80. The trade was a 29.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,947,622 shares of company stock valued at $89,994,656 in the last three months. 14.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Raymond James started coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a "market perform" rating on the stock. Wolfe Research lowered Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Needham & Company LLC lifted their target price on Robinhood Markets from $58.00 to $71.00 and gave the stock a "buy" rating in a report on Wednesday. Morgan Stanley boosted their price target on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.41.

Robinhood Markets Trading Up 1.8%

NASDAQ HOOD traded up $1.08 during trading hours on Friday, hitting $61.76. The company's stock had a trading volume of 23,851,695 shares, compared to its average volume of 26,397,655. The company has a market capitalization of $54.69 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The company's 50-day simple moving average is $44.76 and its two-hundred day simple moving average is $43.31.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted 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). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the prior year, the business earned $0.18 EPS. The firm's revenue for the quarter was up 50.0% compared to the same quarter last year. Research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.