Citizens Financial Group Inc. RI Acquires New Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Citizens Financial Group Inc. RI acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 84,540 shares of the company’s stock, valued at approximately $1,920,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Robinhood Markets by 12.5% during the fourth quarter. Victory Capital Management Inc. now owns 59,116 shares of the company’s stock valued at $753,000 after purchasing an additional 6,551 shares during the period. Jump Financial LLC increased its position in shares of Robinhood Markets by 86.6% during the fourth quarter. Jump Financial LLC now owns 24,700 shares of the company’s stock valued at $315,000 after acquiring an additional 11,462 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of Robinhood Markets by 26.9% in the 4th quarter. QRG Capital Management Inc. now owns 13,310 shares of the company’s stock valued at $170,000 after buying an additional 2,821 shares during the period. Dimensional Fund Advisors LP increased its stake in Robinhood Markets by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,673,579 shares of the company’s stock worth $59,559,000 after buying an additional 672,648 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Robinhood Markets by 2.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 182,694 shares of the company’s stock valued at $2,154,000 after buying an additional 4,347 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $22.50, for a total value of $5,625,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total transaction of $285,000.00. Following the transaction, the insider now directly owns 956,247 shares of the company’s stock, valued at $21,802,431.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,325,322 shares of company stock worth $26,225,912. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Price Performance

Shares of HOOD opened at $22.21 on Tuesday. The company’s 50-day moving average is $20.55 and its 200-day moving average is $19.82. The firm has a market capitalization of $19.52 billion, a PE ratio of 148.07 and a beta of 1.82. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. The business had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS. Analysts predict that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HOOD. Morgan Stanley increased their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. JMP Securities restated a “market outperform” rating and issued a $30.00 target price on shares of Robinhood Markets in a report on Thursday, August 8th. The Goldman Sachs Group lifted their price objective on Robinhood Markets from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Barclays raised Robinhood Markets from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $18.00 to $20.00 in a research report on Friday, September 6th. Finally, Bank of America upped their price target on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.83.

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.