145,381 Shares in Robinhood Markets, Inc. $HOOD Acquired by Baird Financial Group Inc.

Baird Financial Group Inc. purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 145,381 shares of the company’s stock, valued at approximately $13,612,000.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Robinhood Markets by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company’s stock valued at $7,079,564,000 after purchasing an additional 1,371,051 shares during the period. Geode Capital Management LLC boosted its holdings in Robinhood Markets by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock worth $1,233,840,000 after buying an additional 507,926 shares during the period. WCM Investment Management LLC increased its stake in Robinhood Markets by 3,615.7% in the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after buying an additional 11,244,182 shares in the last quarter. Norges Bank bought a new stake in Robinhood Markets during the second quarter valued at about $973,122,000. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Robinhood Markets during the second quarter valued at about $951,479,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Down 3.7%

Shares of NASDAQ:HOOD opened at $131.95 on Monday. The firm has a fifty day simple moving average of $133.29 and a two-hundred day simple moving average of $110.06. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86. The stock has a market capitalization of $118.65 billion, a P/E ratio of 54.75, a PEG ratio of 2.97 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.20. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business’s revenue was up 100.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 EPS. On average, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $132.13, for a total value of $15,855,600.00. Following the completion of the sale, the insider directly owned 430,012 shares of the company’s stock, valued at $56,817,485.56. This trade represents a 21.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 49,942 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total value of $6,549,893.30. Following the transaction, the insider directly owned 54,496 shares in the company, valued at approximately $7,147,150.40. This represents a 47.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 4,099,236 shares of company stock valued at $525,040,481. 14.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Bank of America upped their price objective on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research note on Monday, December 1st. KeyCorp increased their price objective on shares of Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Morgan Stanley boosted their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Finally, Piper Sandler restated an “overweight” rating on shares of Robinhood Markets in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.95.

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.