Franklin Resources Inc. Boosts Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Franklin Resources Inc. grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 311,225 shares of the company's stock after acquiring an additional 41,348 shares during the period. Franklin Resources Inc.'s holdings in Robinhood Markets were worth $11,596,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HOOD. Dorsey & Whitney Trust CO LLC grew its stake in 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. raised its holdings in Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock worth $142,000 after buying an additional 277 shares during the last quarter. Spire Wealth Management lifted its stake in shares of Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after buying an additional 549 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Robinhood Markets by 130.7% during the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company's stock valued at $42,000 after buying an additional 643 shares during the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets during the fourth quarter worth about $26,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Piper Sandler lifted their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a report on Thursday, March 27th. Needham & Company LLC decreased their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a "buy" rating for the company in a report on Friday, March 28th. Cantor Fitzgerald started coverage on shares of Robinhood Markets in a research note on Thursday, March 6th. They issued an "overweight" rating and a $69.00 target price on the stock. Finally, Raymond James began coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a "market perform" rating on the stock. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.06.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 90,866 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $45.27, for a total transaction of $4,113,503.82. Following the sale, the director now owns 5,042 shares in the company, valued at $228,251.34. This trade represents a 94.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares of the company's stock, valued at $36,462,727.20. The trade was a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,651,987 shares of company stock valued at $132,806,233 over the last three months. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Trading Up 7.8 %

Shares of Robinhood Markets stock traded up $3.17 during trading on Friday, hitting $43.68. The stock had a trading volume of 51,213,678 shares, compared to its average volume of 23,773,205. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The firm has a market cap of $38.68 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 1.05 and a beta of 2.17. The business's 50-day moving average is $46.45 and its 200 day moving average is $39.50.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.