Fmr LLC Purchases 3,368,118 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Fmr LLC grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 31.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,129,544 shares of the company’s stock after acquiring an additional 3,368,118 shares during the period. Fmr LLC owned about 1.60% of Robinhood Markets worth $330,914,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cetera Advisors LLC bought a new position in Robinhood Markets during the 1st quarter valued at approximately $606,000. GAMMA Investing LLC raised its holdings in shares of Robinhood Markets by 44.9% during the second quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after acquiring an additional 710 shares in the last quarter. DNB Asset Management AS lifted its stake in Robinhood Markets by 39.7% in the second quarter. DNB Asset Management AS now owns 85,114 shares of the company’s stock worth $1,933,000 after acquiring an additional 24,208 shares during the period. CWM LLC boosted its holdings in Robinhood Markets by 120.7% in the second quarter. CWM LLC now owns 23,222 shares of the company’s stock valued at $527,000 after acquiring an additional 12,701 shares in the last quarter. Finally, Renaissance Capital LLC increased its position in Robinhood Markets by 43.4% during the 2nd quarter. Renaissance Capital LLC now owns 596,736 shares of the company’s stock valued at $13,552,000 after purchasing an additional 180,583 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $37.54 on Friday. Robinhood Markets, Inc. has a 1 year low of $8.69 and a 1 year high of $39.74. The company has a market cap of $33.18 billion, a P/E ratio of 63.63, a PEG ratio of 0.88 and a beta of 1.84. The stock’s fifty day moving average price is $28.43 and its 200-day moving average price is $23.63.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the prior year, the company posted ($0.09) EPS. Robinhood Markets’s revenue was up 36.4% on a year-over-year basis. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Bank of America increased their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods decreased their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Finally, Citigroup increased their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $30.59.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the transaction, the insider now owns 1,045,068 shares in the company, valued at $20,201,164.44. This represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,685,549 shares of company stock worth $114,953,194. 19.95% of the stock is owned by insiders.

About Robinhood Markets

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.