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

Charles Schwab Investment Management Inc. grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,719,732 shares of the company's stock after purchasing an additional 138,267 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.53% of Robinhood Markets worth $175,857,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets during the fourth quarter valued at about $26,000. True Wealth Design LLC bought a new stake in shares of Robinhood Markets in the 3rd quarter valued at about $30,000. Silicon Valley Capital Partners purchased a new stake in Robinhood Markets during the 4th quarter valued at about $37,000. Bogart Wealth LLC bought a new position in Robinhood Markets during the 4th quarter worth approximately $37,000. Finally, Spire Wealth Management increased its stake in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after purchasing an additional 549 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Down 0.9 %

Shares of NASDAQ:HOOD traded down $0.42 during midday trading on Friday, reaching $44.42. The company's stock had a trading volume of 53,241,546 shares, compared to its average volume of 30,663,816. The firm has a 50 day moving average of $48.93 and a 200-day moving average of $35.64. The firm has a market capitalization of $39.33 billion, a P/E ratio of 28.29, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91.

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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 for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other news, insider Steven M. Quirk sold 123,272 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $55.80, for a total value of $6,878,577.60. Following the transaction, the insider now owns 298,826 shares in the company, valued at approximately $16,674,490.80. This represents a 29.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now directly owns 806,955 shares of the company's stock, valued at $30,268,882.05. This trade represents a 27.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,171,641 shares of company stock valued at $149,567,157 in the last 90 days. Corporate insiders own 19.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HOOD. Piper Sandler raised their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Needham & Company LLC raised their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Sanford C. Bernstein boosted their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Barclays increased their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Citigroup upped their price target on Robinhood Markets from $45.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $60.13.

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.