Fmr LLC Raises Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

FMR LLC boosted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 184.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,237,478 shares of the company's stock after purchasing an additional 26,107,934 shares during the period. FMR LLC owned about 4.55% of Robinhood Markets worth $1,499,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dorsey & Whitney Trust CO LLC raised its stake in shares of Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after acquiring an additional 233 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock valued at $142,000 after acquiring an additional 277 shares in the last quarter. Spire Wealth Management lifted its holdings 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 worth $40,000 after purchasing an additional 549 shares during the period. Allworth Financial LP lifted its holdings in Robinhood Markets by 130.7% in the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company's stock valued at $42,000 after acquiring an additional 643 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter worth about $26,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

Shares of HOOD traded down $1.85 during midday trading on Thursday, hitting $40.36. The stock had a trading volume of 45,165,094 shares, compared to its average volume of 23,496,330. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The firm has a market cap of $35.74 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The company has a 50 day simple moving average of $46.85 and a two-hundred day simple moving average of $39.23.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS 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%. Analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the completion of the transaction, the chief technology officer now directly owns 5,853 shares in the company, valued at approximately $201,987.03. This represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,651,987 shares of company stock valued at $132,806,233. 19.95% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. KeyCorp increased their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Morgan Stanley cut shares of Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 target price for the company. in a report on Tuesday. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a research report on Thursday, March 27th. Piper Sandler boosted their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $55.06.

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.