GQG Partners LLC Acquires New Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

GQG Partners LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,113,929 shares of the company’s stock, valued at approximately $302,325,000. GQG Partners LLC owned 0.92% of Robinhood Markets as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC increased its stake in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after buying an additional 3,368,118 shares during the period. State Street Corp grew its stake in Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after acquiring an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after acquiring an additional 138,267 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Robinhood Markets by 19.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock valued at $179,463,000 after acquiring an additional 739,631 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $48.36 on Tuesday. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The company has a market cap of $42.82 billion, a PE ratio of 30.80, a P/E/G ratio of 1.05 and a beta of 2.14. The business has a 50-day simple moving average of $49.22 and a two-hundred day simple moving average of $37.61.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Baiju Bhatt sold 228,645 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.37, for a total value of $9,230,398.65. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at $203,545.54. This represents a 97.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,685,104 shares of company stock worth $131,233,346. Company insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft cut their price target on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. KeyCorp upped their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Barclays raised their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Citigroup upped their price target on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

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.