Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,337 shares of the company’s stock after purchasing an additional 5,534 shares during the quarter. Victory Capital Management Inc.’s holdings in Robinhood Markets were worth $1,438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in Robinhood Markets in the fourth quarter valued at $84,165,000. Price T Rowe Associates Inc. MD grew its position in Robinhood Markets by 169.1% in the 1st 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 last quarter. Vanguard Group Inc. increased its stake in shares of Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after purchasing an additional 1,003,535 shares during the period. Scout Investments Inc. bought a new stake in shares of Robinhood Markets during the first quarter valued at approximately $18,563,000. Finally, Railway Pension Investments Ltd grew its holdings in Robinhood Markets by 52.6% in the 1st quarter. Railway Pension Investments Ltd now owns 2,393,031 shares of the company’s stock worth $48,172,000 after buying an additional 825,307 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on HOOD. KeyCorp boosted their price target on shares of Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research note on Wednesday, June 26th. 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. Citigroup upgraded shares of Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 price target on the stock in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets has an average rating of “Hold” and a consensus target price of $22.83.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,204,096 shares of company stock valued at $23,603,793. Insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $22.95 on Thursday. The stock’s 50 day simple moving average is $20.55 and its 200 day simple moving average is $19.86. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $24.88. The firm has a market cap of $20.17 billion, a PE ratio of 153.00 and a beta of 1.82.

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

Robinhood Markets 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.