First Trust Advisors LP Increases Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

First Trust Advisors LP raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 35.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 964,836 shares of the company's stock after purchasing an additional 254,817 shares during the period. First Trust Advisors LP owned 0.11% of Robinhood Markets worth $35,950,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after buying an additional 26,107,934 shares during the last quarter. Norges Bank acquired a new stake in Robinhood Markets in the 4th quarter valued at about $329,598,000. GQG Partners LLC purchased a new position in Robinhood Markets in the 4th quarter worth approximately $302,325,000. Artisan Partners Limited Partnership purchased a new position in Robinhood Markets in the 4th quarter worth approximately $152,949,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after purchasing an additional 3,091,514 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Insiders Place Their Bets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $47.82, for a total value of $280,990.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 47,133 shares of Robinhood Markets stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $45.27, for a total transaction of $2,133,710.91. Following the sale, the director now directly owns 7,863 shares of the company's stock, valued at approximately $355,958.01. This trade represents a 85.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,240,460 shares of company stock worth $110,036,750 over the last 90 days. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets Trading Up 2.7 %

HOOD traded up $1.30 during mid-day trading on Friday, hitting $49.45. 34,530,486 shares of the stock were exchanged, compared to its average volume of 24,936,046. The company has a market cap of $43.79 billion, a PE ratio of 31.50, a PEG ratio of 1.05 and a beta of 2.17. The firm's fifty day moving average is $43.49 and its two-hundred day moving average is $40.89. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 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 anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays cut their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Morgan Stanley lowered Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 price target on the stock. in a report on Tuesday, April 8th. Raymond James initiated coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a "market perform" rating on the stock. KeyCorp cut their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $53.88.

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.