Wealthfront Advisers LLC Has $5.50 Million Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Wealthfront Advisers LLC boosted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 213.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,162 shares of the company’s stock after buying an additional 89,971 shares during the period. Wealthfront Advisers LLC’s holdings in Robinhood Markets were worth $5,501,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. FMR LLC grew its position in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC raised its position in shares of Robinhood Markets by 1.1% during the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock worth $900,159,000 after purchasing an additional 273,860 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock valued at $455,464,000 after purchasing an additional 555,299 shares during the period. Renaissance Technologies LLC lifted its position in Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after buying an additional 3,091,514 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in Robinhood Markets by 0.5% during the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company’s stock worth $398,667,000 after buying an additional 52,700 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Trading Up 2.1%

Shares of HOOD stock opened at $105.45 on Friday. The stock has a market capitalization of $93.37 billion, a P/E ratio of 59.92, a P/E/G ratio of 5.26 and a beta of 2.36. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $107.73. The firm’s 50 day moving average is $77.63 and its 200 day moving average is $57.05.

Robinhood Markets (NASDAQ:HOOD) last posted 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). The business had revenue of $927.00 million during the quarter, compared to analysts’ expectations of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The firm’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven M. Quirk sold 104,887 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the transaction, the insider owned 228,621 shares in the company, valued at $16,035,476.94. This represents a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,364,145 shares of company stock worth $181,837,741 over the last quarter. 14.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Compass Point upped their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Barclays boosted their target price on shares of Robinhood Markets from $57.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Piper Sandler boosted their price objective on Robinhood Markets from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday. 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. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.29.

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.