Axa S.A. Purchases Shares of 171,118 Robinhood Markets, Inc. (NASDAQ:HOOD)

AXA S.A. purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 171,118 shares of the company's stock, valued at approximately $3,886,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Angeles Wealth Management LLC boosted its stake in Robinhood Markets by 5.3% during the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company's stock worth $246,000 after purchasing an additional 610 shares during the period. GAMMA Investing LLC increased its stake in shares of Robinhood Markets by 44.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company's stock worth $52,000 after purchasing an additional 710 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company's stock valued at $29,000 after purchasing an additional 722 shares during the last quarter. Commerce Bank lifted its stake in shares of Robinhood Markets by 7.9% during the fourth quarter. Commerce Bank now owns 12,459 shares of the company's stock valued at $159,000 after buying an additional 917 shares during the period. Finally, Whittier Trust Co. lifted its stake in shares of Robinhood Markets by 25.8% during the 1st quarter. Whittier Trust Co. now owns 5,828 shares of the company's stock worth $117,000 after purchasing an additional 1,194 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on HOOD. Keefe, Bruyette & Woods decreased their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a "market perform" rating on the stock in a report on Thursday, August 8th. KeyCorp lifted their price target on shares of Robinhood Markets from $23.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, July 19th. JPMorgan Chase & Co. increased their target price on Robinhood Markets from $16.00 to $17.00 and gave the company an "underweight" rating in a research note on Thursday, August 8th. Barclays upgraded Robinhood Markets from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $18.00 to $20.00 in a research note on Friday, September 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Robinhood Markets in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of "Hold" and an average price target of $23.63.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock traded down $0.47 on Monday, hitting $23.42. The company had a trading volume of 10,102,152 shares, compared to its average volume of 15,530,698. The business has a 50-day simple moving average of $20.49 and a 200-day simple moving average of $20.25. The company has a market cap of $20.58 billion, a PE ratio of 156.13 and a beta of 1.82. Robinhood Markets, Inc. has a 52 week low of $7.91 and a 52 week high of $24.88.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. The firm's quarterly revenue was up 40.3% compared to the same quarter last year. On average, equities research analysts predict that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 139,916 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Vladimir Tenev sold 250,000 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total transaction of $4,815,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Baiju Bhatt sold 139,916 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The disclosure for this sale can be found here. Insiders sold a total of 1,204,096 shares of company stock worth $23,603,793 in the last quarter. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Company 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.