Allspring Global Investments Holdings LLC Raises Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Allspring Global Investments Holdings LLC raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 1,211,858.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,817,670 shares of the company's stock after buying an additional 3,817,355 shares during the period. Allspring Global Investments Holdings LLC owned about 0.43% of Robinhood Markets worth $89,410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HOOD. Vanguard Group Inc. boosted its holdings in Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company's stock valued at $1,143,960,000 after acquiring an additional 1,003,535 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company's stock worth $173,770,000 after buying an additional 2,094,800 shares during the period. Dimensional Fund Advisors LP raised its stake in Robinhood Markets by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company's stock worth $92,549,000 after buying an additional 112,967 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Robinhood Markets by 8.7% during the second quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company's stock worth $54,749,000 after buying an additional 193,585 shares during the last quarter. Finally, Railway Pension Investments Ltd lifted its holdings in Robinhood Markets by 52.6% in the first quarter. Railway Pension Investments Ltd now owns 2,393,031 shares of the company's stock valued at $48,172,000 after buying an additional 825,307 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HOOD. KeyCorp increased their price target on Robinhood Markets from $25.00 to $30.00 and gave the stock an "overweight" rating in a report on Monday. The Goldman Sachs Group lifted their target price on Robinhood Markets from $22.50 to $25.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. JMP Securities restated a "market outperform" rating and set a $30.00 price target on shares of Robinhood Markets in a report on Thursday, August 8th. Piper Sandler lifted their price objective on shares of Robinhood Markets from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Wolfe Research raised shares of Robinhood Markets from a "peer perform" rating to an "outperform" rating and set a $29.00 target price on the stock in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $24.97.

Robinhood Markets Stock Up 0.5 %

HOOD stock traded up $0.14 during mid-day trading on Monday, reaching $26.97. 10,276,336 shares of the company traded hands, compared to its average volume of 15,468,550. The firm's 50 day moving average price is $22.20 and its 200 day moving average price is $20.91. The stock has a market cap of $23.70 billion, a price-to-earnings ratio of 179.80 and a beta of 1.84. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $27.33.

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

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares in the company, valued at $20,201,164.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of the business's stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $26.40, for a total value of $2,597,865.60. Following the transaction, the director now owns 2,521 shares of the company's stock, valued at approximately $66,554.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the sale, the insider now directly owns 1,045,068 shares of the company's stock, valued at approximately $20,201,164.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,639,654 shares of company stock valued at $110,241,632 in the last three months. 19.95% of the stock is currently owned by 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.