Prudential Financial Inc. Increases Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Prudential Financial Inc. raised its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 1,713.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 647,219 shares of the company’s stock after purchasing an additional 611,526 shares during the period. Prudential Financial Inc. owned approximately 0.07% of Robinhood Markets worth $24,115,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares in the last quarter. State Street Corp grew its position in Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after acquiring an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after acquiring an additional 138,267 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Robinhood Markets by 19.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock valued at $179,463,000 after purchasing an additional 739,631 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

HOOD stock opened at $44.73 on Thursday. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The firm has a 50-day moving average of $49.33 and a 200 day moving average of $37.87. The company has a market cap of $39.61 billion, a P/E ratio of 28.49, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 228,645 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the completion of the sale, the director now owns 5,042 shares in the company, valued at approximately $203,545.54. This trade represents a 97.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,955,655 shares of company stock valued at $143,072,448. 19.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Compass Point started coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 target price on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Cantor Fitzgerald assumed coverage on Robinhood Markets in a report on Thursday, March 6th. They set an “overweight” rating and a $69.00 target price for the company. JPMorgan Chase & Co. lifted their price target on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.29.

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.