Robeco Institutional Asset Management B.V. Acquires 690,467 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Robeco Institutional Asset Management B.V. grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 146.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,161,240 shares of the company’s stock after purchasing an additional 690,467 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Robinhood Markets were worth $27,196,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position 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 last quarter. Renaissance Technologies LLC increased its holdings in shares of Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after buying an additional 2,094,800 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Robinhood Markets by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock valued at $92,549,000 after buying an additional 112,967 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Robinhood Markets by 1,211,858.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after acquiring an additional 3,817,355 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Robinhood Markets by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock worth $54,749,000 after acquiring an additional 193,585 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $24.96 on Wednesday. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $28.58. The company has a market cap of $22.08 billion, a PE ratio of 42.31, a P/E/G ratio of 0.54 and a beta of 1.84. The business has a 50-day simple moving average of $23.51 and a two-hundred day simple moving average of $21.51.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.09) earnings per share. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 0.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 98,404 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the sale, the director now directly owns 2,521 shares of the company’s stock, valued at $66,554.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Steven M. Quirk sold 208,291 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.98, for a total value of $5,203,109.18. Following the completion of the transaction, the insider now directly owns 346,020 shares in the company, valued at $8,643,579.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the sale, the director now owns 2,521 shares in the company, valued at approximately $66,554.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,389,654 shares of company stock valued at $106,229,132 over the last quarter. 19.95% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of recent research reports. JMP Securities upped their price objective on Robinhood Markets from $30.00 to $33.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Bank of America increased their price target on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. Citigroup raised their price objective 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. Barclays upped their price target on shares of Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Piper Sandler boosted their price objective on shares of Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.17.

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.