Fmr LLC Increases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Fmr LLC raised its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 184.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,237,478 shares of the company’s stock after acquiring an additional 26,107,934 shares during the quarter. Fmr LLC’s holdings in Robinhood Markets were worth $1,499,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of HOOD. Dorsey & Whitney Trust CO LLC raised its holdings in 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. increased its position in Robinhood Markets by 7.8% in the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after buying an additional 277 shares in the last quarter. Spire Wealth Management increased its position in Robinhood Markets by 104.6% in 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 in the last quarter. Allworth Financial LP raised its stake in shares of Robinhood Markets by 130.7% in 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 period. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the 4th quarter valued at about $26,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Down 9.8 %

Shares of NASDAQ HOOD opened at $34.51 on Monday. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The firm’s 50-day moving average price is $48.15 and its 200-day moving average price is $38.93. The stock has a market capitalization of $30.56 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (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%. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of recent analyst reports. Mizuho raised their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Barclays raised their price target on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Piper Sandler upped their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.24.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at $36,462,727.20. The trade was a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 123,272 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the completion of the sale, the insider now owns 298,826 shares in the company, valued at approximately $16,674,490.80. The trade was a 29.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,621,134 shares of company stock worth $131,646,496 over the last quarter. Insiders own 19.95% of the company’s stock.

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.