Commerce Bank Purchases 917 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Commerce Bank grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOODFree Report) by 7.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,459 shares of the company’s stock after acquiring an additional 917 shares during the period. Commerce Bank’s holdings in Robinhood Markets were worth $159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Robinhood Markets by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after acquiring an additional 2,459,702 shares during the period. ARK Investment Management LLC grew its position in shares of Robinhood Markets by 6.4% during the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after acquiring an additional 2,101,325 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Robinhood Markets by 9.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after acquiring an additional 2,517,012 shares during the period. Nikko Asset Management Americas Inc. grew its position in shares of Robinhood Markets by 9.6% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after acquiring an additional 2,486,986 shares during the period. Finally, Norges Bank bought a new position in shares of Robinhood Markets during the 4th quarter valued at approximately $84,165,000. 93.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on HOOD shares. Barclays upped their price target on shares of Robinhood Markets from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Thursday, May 9th. Keefe, Bruyette & Woods started coverage on shares of Robinhood Markets in a research note on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 price target on the stock. Citigroup cut shares of Robinhood Markets from a “neutral” rating to a “sell” rating and upped their price target for the company from $13.00 to $16.00 in a research note on Thursday, April 11th. The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Finally, TheStreet upgraded shares of Robinhood Markets from a “d+” rating to a “c-” rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.75.

Read Our Latest Report on HOOD

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $20.90 on Monday. The firm’s fifty day moving average price is $18.57 and its 200-day moving average price is $14.69. The stock has a market cap of $18.37 billion, a P/E ratio of 139.33 and a beta of 1.83. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $22.34.

Robinhood Markets (NASDAQ:HOODGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.13. The firm had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The business’s quarterly revenue was up 40.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.57) EPS. On average, analysts predict that Robinhood Markets, Inc. will post 0.53 earnings per share for the current year.

Insider Activity

In other news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total transaction of $4,667,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total transaction of $4,667,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jason Warnick sold 5,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.59, for a total transaction of $97,950.00. Following the transaction, the chief financial officer now directly owns 1,002,407 shares in the company, valued at approximately $19,637,153.13. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,167,682 shares of company stock worth $20,864,243. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Robinhood Markets (NASDAQ:HOOD)

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