Dimensional Fund Advisors LP Has $92.55 Million Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Dimensional Fund Advisors LP lifted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,075,468 shares of the company’s stock after purchasing an additional 112,967 shares during the period. Dimensional Fund Advisors LP owned 0.46% of Robinhood Markets worth $92,549,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in shares of Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. ORG Partners LLC acquired a new position in Robinhood Markets during the second quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC bought a new position in shares of Robinhood Markets in the first quarter valued at approximately $34,000. International Assets Investment Management LLC acquired a new stake in shares of Robinhood Markets in the second quarter worth $40,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Robinhood Markets during the 2nd quarter worth $45,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $22.77 on Wednesday. The stock’s fifty day simple moving average is $20.53 and its 200 day simple moving average is $20.09. 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 $20.01 billion, a price-to-earnings ratio of 151.80 and a beta of 1.82.

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

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total value of $285,000.00. Following the completion of the transaction, the insider now owns 956,247 shares in the company, valued at $21,802,431.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total transaction of $285,000.00. Following the completion of the transaction, the insider now directly owns 956,247 shares of the company’s stock, valued at $21,802,431.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,204,096 shares of company stock valued at $23,603,793. 19.95% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HOOD. KeyCorp boosted their target price 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. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a research note on Thursday, August 8th. 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 report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Robinhood Markets from a “hold” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $24.00 in a research note on Thursday, August 15th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. One investment 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, Robinhood Markets has an average rating of “Hold” and a consensus price target of $23.10.

About Robinhood Markets

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.