Geode Capital Management LLC Buys 555,299 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Geode Capital Management LLC raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,175,972 shares of the company’s stock after purchasing an additional 555,299 shares during the period. Geode Capital Management LLC owned 1.38% of Robinhood Markets worth $455,464,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank grew its position in Robinhood Markets by 31.1% in the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after purchasing an additional 16,219 shares during the period. IFP Advisors Inc lifted its stake in shares of Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after buying an additional 3,769 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Robinhood Markets during the fourth quarter valued at about $634,000. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 138,267 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its position in Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after acquiring an additional 92,613 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD opened at $34.51 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The business has a 50-day moving average of $48.15 and a 200 day moving average of $38.71. The firm has a market cap of $30.56 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results 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 net margin of 47.81% and a return on equity of 13.53%. As a group, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $42.64, for a total transaction of $250,552.64. Following the completion of the transaction, the chief technology officer now owns 5,876 shares of the company’s stock, valued at $250,552.64. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. Insiders have sold 2,627,010 shares of company stock valued at $131,897,049 in the last 90 days. 19.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HOOD has been the subject of a number of recent research reports. Barclays boosted their price objective on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Piper Sandler raised their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.24.

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.