Exchange Traded Concepts LLC Has $3.48 Million Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

by · The Markets Daily

Exchange Traded Concepts LLC lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 3.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 148,609 shares of the company’s stock after purchasing an additional 5,382 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Robinhood Markets were worth $3,480,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Robinhood Markets by 169.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock worth $40,092,000 after purchasing an additional 1,251,495 shares during the period. AQR Capital Management LLC grew its stake in Robinhood Markets by 274.7% during the second quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock worth $37,341,000 after purchasing an additional 1,218,317 shares during the period. Acadian Asset Management LLC lifted its stake in Robinhood Markets by 7,622.2% in the second quarter. Acadian Asset Management LLC now owns 1,040,877 shares of the company’s stock valued at $23,625,000 after buying an additional 1,027,398 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Robinhood Markets by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after buying an additional 1,003,535 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the subject of several research analyst reports. Citigroup lifted their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a report on Monday, September 30th. Morgan Stanley raised their target price on Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. upped their price target on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Finally, Piper Sandler reissued an “overweight” rating and issued a $27.00 price objective on shares of Robinhood Markets in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.83.

Get Our Latest Research Report on Robinhood Markets

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $26.27 on Monday. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $26.65. The firm’s 50-day simple moving average is $21.08 and its 200 day simple moving average is $20.60. The stock has a market cap of $23.09 billion, a PE ratio of 175.13 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS. As a group, analysts predict that Robinhood Markets, Inc. will post 0.76 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Steven M. Quirk sold 208,291 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the completion of the transaction, the insider now directly owns 346,020 shares of the company’s stock, valued at $8,643,579.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. Insiders sold 4,541,250 shares of company stock worth $107,643,767 in the last quarter. 19.95% of the stock is currently owned by company 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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