Robinhood Markets, Inc. $HOOD Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP lifted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,261 shares of the company’s stock after acquiring an additional 486 shares during the quarter. Wellington Management Group LLP’s holdings in Robinhood Markets were worth $677,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HOOD. MetLife Investment Management LLC increased its stake in shares of Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after acquiring an additional 171 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Robinhood Markets by 11.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 44,296 shares of the company’s stock worth $1,650,000 after acquiring an additional 4,556 shares during the period. Comerica Bank increased its stake in shares of Robinhood Markets by 167.3% in the fourth quarter. Comerica Bank now owns 11,894 shares of the company’s stock worth $443,000 after acquiring an additional 7,444 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Robinhood Markets by 224.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 103,583 shares of the company’s stock worth $3,860,000 after acquiring an additional 71,652 shares during the period. Finally, AXA S.A. increased its stake in shares of Robinhood Markets by 1,562.7% in the fourth quarter. AXA S.A. now owns 153,248 shares of the company’s stock worth $5,710,000 after acquiring an additional 144,031 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Up 0.3%

HOOD opened at $104.03 on Tuesday. The company has a market cap of $92.45 billion, a price-to-earnings ratio of 52.81, a PEG ratio of 3.81 and a beta of 2.36. Robinhood Markets, Inc. has a 52-week low of $18.71 and a 52-week high of $117.70. The firm’s fifty day simple moving average is $102.25 and its two-hundred day simple moving average is $70.27.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company’s revenue was up 45.0% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Ratings Changes

HOOD has been the topic of a number of research reports. Mizuho increased their price objective on shares of Robinhood Markets from $99.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Keefe, Bruyette & Woods increased their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, July 31st. Cantor Fitzgerald increased their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Compass Point increased their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Finally, Piper Sandler increased their price target on shares of Robinhood Markets from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $100.31.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares of the company’s stock, valued at $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,688,606 shares of company stock valued at $561,670,429. 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.