Fmr LLC Grows Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Fmr LLC boosted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 184.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,237,478 shares of the company’s stock after acquiring an additional 26,107,934 shares during the quarter. Fmr LLC owned 4.55% of Robinhood Markets worth $1,499,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV raised its holdings in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 shares during the last quarter. Silicon Valley Capital Partners purchased a new stake in Robinhood Markets during the 4th quarter valued at $37,000. Bogart Wealth LLC bought a new stake in Robinhood Markets in the 4th quarter worth $37,000. Finally, Spire Wealth Management raised its stake in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after acquiring an additional 549 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent analyst reports. Piper Sandler raised their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Needham & Company LLC cut their price objective on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. Citigroup cut their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.24.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 223,528 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at $217,864.82. The trade was a 97.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,621,134 shares of company stock worth $131,646,496. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Trading Down 9.8 %

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

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating 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%. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

About Robinhood Markets

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.