Quantinno Capital Management LP Grows Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Quantinno Capital Management LP grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 64.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 62,293 shares of the company’s stock after purchasing an additional 24,426 shares during the quarter. Quantinno Capital Management LP’s holdings in Robinhood Markets were worth $2,321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC boosted its position in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares during the last quarter. Norges Bank purchased a new position in shares of Robinhood Markets during the 4th quarter worth $329,598,000. GQG Partners LLC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $302,325,000. Artisan Partners Limited Partnership purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at $152,949,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock valued at $193,202,000 after purchasing an additional 3,994,745 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 1.0%

Shares of Robinhood Markets stock opened at $64.91 on Wednesday. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The stock has a market cap of $57.48 billion, a price-to-earnings ratio of 41.34, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The company has a fifty day moving average price of $46.35 and a 200 day moving average price of $44.22.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The company had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 50.0% compared to the same quarter last year. Analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

HOOD has been the topic of several recent analyst reports. Mizuho increased their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. 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. Citigroup decreased their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley upped their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 13th. Finally, Cantor Fitzgerald cut their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.41.

Insider Activity at Robinhood Markets

In related news, Director Meyer Malka sold 64,951 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $49.64, for a total transaction of $3,224,167.64. Following the completion of the sale, the director now directly owns 3,235,585 shares of the company’s stock, valued at approximately $160,614,439.40. This trade represents a 1.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven M. Quirk sold 123,272 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the completion of the transaction, the insider now owns 298,826 shares in the company, valued at $16,674,490.80. This represents a 29.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,897,622 shares of company stock worth $86,956,156. 14.47% of the stock is currently owned by company insiders.

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.