Charles Schwab Investment Management Inc. Acquires 138,267 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Charles Schwab Investment Management Inc. raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,719,732 shares of the company's stock after acquiring an additional 138,267 shares during the period. Charles Schwab Investment Management Inc. owned about 0.53% of Robinhood Markets worth $175,857,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock valued at $142,000 after purchasing an additional 277 shares in the last quarter. Commerce Bank grew its holdings in shares of Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company's stock worth $310,000 after purchasing an additional 423 shares during the last quarter. Spire Wealth Management increased 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. Axxcess Wealth Management LLC increased its stake in shares of Robinhood Markets by 3.1% in the third quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company's stock valued at $463,000 after buying an additional 598 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of 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 buying an additional 643 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Trading Up 2.0 %

Shares of NASDAQ HOOD traded up $0.73 during midday trading on Tuesday, reaching $36.36. The company's stock had a trading volume of 69,219,720 shares, compared to its average volume of 32,784,258. The stock has a 50 day simple moving average of $48.98 and a 200-day simple moving average of $36.14. The stock has a market capitalization of $32.20 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91.

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

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 186,514 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the transaction, the director now directly owns 2,521 shares in the company, valued at $96,125.73. The trade was a 98.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the sale, the insider now owns 806,955 shares of the company's stock, valued at $30,268,882.05. This trade represents a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,171,641 shares of company stock valued at $149,567,157. Insiders own 19.95% of the company's stock.

Analyst Ratings Changes

HOOD has been the subject of several research reports. Piper Sandler raised their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Raymond James began coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a "market perform" rating for the company. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Finally, Mizuho upped their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $60.13.

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.