Robinhood Markets, Inc. (NASDAQ:HOOD) Position Boosted by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 43.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,124,276 shares of the company’s stock after purchasing an additional 342,350 shares during the quarter. Russell Investments Group Ltd.’s holdings in Robinhood Markets were worth $41,891,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after buying an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Robinhood Markets by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after purchasing an additional 555,299 shares during the period. Norges Bank purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at $329,598,000. GQG Partners LLC acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $302,325,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after purchasing an additional 138,267 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $35.41 on Tuesday. The business has a 50 day simple moving average of $47.91 and a 200 day simple moving average of $39.02. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The stock has a market cap of $31.35 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 1.05 and a beta of 2.17.

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

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 522,180 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the transaction, the director now owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 500,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total value of $25,385,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,646,134 shares of company stock valued at $132,604,246. Corporate insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a research note on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price objective for the company. Raymond James began coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating on the stock. Barclays decreased their target price on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday. Finally, JMP Securities upped their price target on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.41.

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.