Robinhood Markets, Inc. (NASDAQ:HOOD) Holdings Increased by Invesco Ltd.

Invesco Ltd. increased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 132.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,867,595 shares of the company's stock after purchasing an additional 1,634,599 shares during the quarter. Invesco Ltd. owned approximately 0.32% of Robinhood Markets worth $106,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Employees Retirement System of Texas purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at $1,609,000. Cerity Partners LLC increased its stake in shares of Robinhood Markets by 607.9% during the 4th quarter. Cerity Partners LLC now owns 761,887 shares of the company's stock valued at $28,258,000 after acquiring an additional 654,258 shares during the last quarter. FMR LLC lifted its holdings in shares of Robinhood Markets by 184.8% during the 4th 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 period. Federated Hermes Inc. boosted its position in shares of Robinhood Markets by 4.7% in the fourth quarter. Federated Hermes Inc. now owns 30,386 shares of the company's stock worth $1,132,000 after acquiring an additional 1,356 shares during the last quarter. Finally, MIG Capital LLC purchased a new stake in Robinhood Markets in the fourth quarter valued at approximately $339,000. Institutional investors and hedge funds own 93.27% of the company's stock.

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Wall Street Analysts Forecast Growth

HOOD has been the topic of several research reports. Barclays cut their target price on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Mizuho lifted their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Morgan Stanley cut shares of Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 price target on the stock. in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a research report on Thursday, March 6th. They issued an "overweight" rating and a $69.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.06.

Robinhood Markets Trading Down 0.1 %

NASDAQ HOOD traded down $0.06 on Tuesday, hitting $44.08. 30,077,994 shares of the stock traded hands, compared to its average volume of 23,941,505. The company has a market capitalization of $39.03 billion, a P/E ratio of 28.08, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The stock has a 50-day moving average of $46.25 and a 200 day moving average of $39.76. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 500,000 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total transaction of $25,385,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $45.27, for a total value of $4,113,503.82. Following the completion of the transaction, the director now directly owns 5,042 shares of the company's stock, valued at $228,251.34. This trade represents a 94.74 % 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. Company insiders own 19.95% of the company's stock.

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.