Vanguard Group Inc. Increases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Vanguard Group Inc. increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,366,379 shares of the company’s stock after purchasing an additional 87,988 shares during the period. Vanguard Group Inc. owned approximately 0.08% of Robinhood Markets worth $2,547,331,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HOOD. FMR LLC raised its holdings in shares of Robinhood Markets by 31.3% in the third 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 increased its holdings in shares of Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after acquiring an additional 1,085,679 shares during the period. Geode Capital Management LLC raised its position in shares of Robinhood Markets by 19.5% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 purchasing an additional 138,267 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Robinhood Markets by 19.4% in 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 purchasing an additional 739,631 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $48.15 on Wednesday. The business’s 50 day moving average price is $49.35 and its 200 day moving average price is $37.82. The company has a market cap of $42.63 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91.

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

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares of the company’s stock, valued at $821,936.79. The trade was a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,908,632 shares of company stock worth $140,891,991. Company insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HOOD shares. Cantor Fitzgerald assumed coverage on shares of Robinhood Markets in a research note on Thursday, March 6th. They set an “overweight” rating and a $69.00 price objective for the company. Raymond James initiated coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft dropped their target price 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. Piper Sandler increased their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Morgan Stanley boosted their price target on Robinhood Markets from $64.00 to $90.00 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 issued a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $61.29.

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.