Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Bought by DNB Asset Management AS

DNB Asset Management AS increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 39.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 85,114 shares of the company’s stock after buying an additional 24,208 shares during the period. DNB Asset Management AS’s holdings in Robinhood Markets were worth $1,933,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of HOOD. Norges Bank acquired a new stake in shares of Robinhood Markets in the 4th quarter worth about $84,165,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Robinhood Markets by 9.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after purchasing an additional 2,517,012 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in shares of Robinhood Markets by 9.6% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after buying an additional 2,486,986 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Robinhood Markets by 169.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock valued at $40,092,000 after acquiring an additional 1,251,495 shares in the last quarter. Finally, Vanguard Group Inc. lifted 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 worth $1,143,960,000 after purchasing an additional 1,003,535 shares during the period. Institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 153,180 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $16.63, for a total value of $2,547,383.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $21.03, for a total value of $5,257,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 153,180 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $16.63, for a total value of $2,547,383.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,151,093 shares of company stock worth $24,215,307 over the last 90 days. Insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HOOD. Morgan Stanley upped their target price on Robinhood Markets from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a report on Thursday, June 6th. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price for the company in a report on Wednesday, June 26th. KeyCorp lifted their price target on Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Bank of America raised shares of Robinhood Markets from an “underperform” rating to a “buy” rating and upped their price objective for the company from $14.00 to $24.00 in a research note on Friday, May 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.23.

Robinhood Markets Trading Up 2.0 %

Shares of NASDAQ:HOOD opened at $17.55 on Wednesday. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $24.88. The firm has a fifty day moving average price of $21.96 and a 200 day moving average price of $18.33. The stock has a market capitalization of $15.42 billion, a PE ratio of 114.73 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. The business had revenue of $618.00 million for the quarter, compared to analyst estimates of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The firm’s revenue for the quarter was up 40.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.57) EPS. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.57 earnings per share for the current fiscal year.

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.