Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 1,662.6% during the second quarter, Holdings Channel.com reports. The fund owned 198,471 shares of the company’s stock after buying an additional 187,211 shares during the period. Edgestream Partners L.P.’s holdings in Robinhood Markets were worth $4,507,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of HOOD. Victory Capital Management Inc. grew its position in shares of Robinhood Markets by 12.5% during the 4th quarter. Victory Capital Management Inc. now owns 59,116 shares of the company’s stock valued at $753,000 after acquiring an additional 6,551 shares during the period. Jump Financial LLC boosted its holdings in Robinhood Markets by 86.6% in the 4th quarter. Jump Financial LLC now owns 24,700 shares of the company’s stock worth $315,000 after buying an additional 11,462 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Robinhood Markets by 26.9% in the 4th quarter. QRG Capital Management Inc. now owns 13,310 shares of the company’s stock worth $170,000 after buying an additional 2,821 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Robinhood Markets by 16.8% in 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 last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in 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 worth $2,154,000 after buying an additional 4,347 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 139,916 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total value of $285,000.00. Following the completion of the transaction, the insider now owns 956,247 shares in the company, valued at $21,802,431.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 139,916 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.55, for a total transaction of $2,735,357.80. The disclosure for this sale can be found here. Insiders sold a total of 1,325,322 shares of company stock worth $26,225,912 over the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HOOD shares. JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. Citigroup upgraded Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 price objective on the stock in a report on Monday, August 5th. JMP Securities reissued a “market outperform” rating and issued a $30.00 target price on shares of Robinhood Markets in a research note on Thursday, August 8th. Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price on the stock in a research note on Wednesday, June 26th. Finally, Piper Sandler raised shares of Robinhood Markets from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $20.00 to $23.00 in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.83.

Robinhood Markets Stock Up 1.9 %

Shares of NASDAQ HOOD opened at $22.64 on Wednesday. The firm has a market cap of $19.90 billion, a price-to-earnings ratio of 150.93 and a beta of 1.82. Robinhood Markets, Inc. has a 52-week low of $7.91 and a 52-week high of $24.88. The business’s 50 day moving average is $20.55 and its two-hundred day moving average is $19.86.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping 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 company’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Analysts anticipate that Robinhood Markets, Inc. will post 0.76 EPS 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.