Van ECK Associates Corp Has $11.43 Million Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Van ECK Associates Corp lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 542.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 503,333 shares of the company’s stock after purchasing an additional 424,988 shares during the quarter. Van ECK Associates Corp owned 0.06% of Robinhood Markets worth $11,431,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Spire Wealth Management acquired a new position in Robinhood Markets during the fourth quarter worth $26,000. PNC Financial Services Group Inc. grew its holdings in shares of Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the last quarter. ORG Partners LLC bought a new stake in shares of Robinhood Markets during the second quarter worth $33,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Robinhood Markets during the first quarter worth $34,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Robinhood Markets during the second quarter worth $40,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Down 0.2 %

Shares of HOOD opened at $20.12 on Monday. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $24.88. The business has a 50-day simple moving average of $21.03 and a two-hundred day simple moving average of $19.39. The stock has a market cap of $17.68 billion, a PE ratio of 134.13 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s revenue was up 40.3% on a year-over-year basis. On average, equities research analysts expect that Robinhood Markets, Inc. will post 0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HOOD. Bank of America increased their target price on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Piper Sandler upgraded Robinhood Markets from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $20.00 to $23.00 in a report on Monday, August 12th. Barclays decreased their target price on Robinhood Markets from $20.00 to $18.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft upgraded Robinhood Markets from a “hold” rating to a “buy” rating and raised their price target for the company from $21.00 to $24.00 in a report on Thursday, August 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.70.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $21.03, for a total transaction of $5,257,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $21.03, for a total transaction of $5,257,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $21.05, for a total value of $263,125.00. Following the transaction, the insider now directly owns 943,815 shares in the company, valued at $19,867,305.75. The disclosure for this sale can be found here. Insiders have sold a total of 1,185,406 shares of company stock worth $23,954,554 in the last 90 days. Corporate insiders own 19.95% of the company’s stock.

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.