Benjamin F. Edwards & Company Inc. Grows Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Benjamin F. Edwards & Company Inc. grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 262.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,327 shares of the company’s stock after buying an additional 55,266 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Robinhood Markets were worth $1,733,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 1,003,535 shares during the period. Renaissance Technologies LLC boosted its holdings in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after buying an additional 2,094,800 shares in the last quarter. Norges Bank acquired a new stake in Robinhood Markets during the fourth quarter valued at $84,165,000. Dimensional Fund Advisors LP increased its holdings in Robinhood Markets by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,673,579 shares of the company’s stock valued at $59,559,000 after buying an additional 672,648 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Robinhood Markets by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock worth $54,749,000 after acquiring an additional 193,585 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HOOD. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Piper Sandler boosted their price objective on Robinhood Markets from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley increased their target price on Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised shares of Robinhood Markets from a “hold” rating to a “buy” rating and boosted their price target for the stock from $21.00 to $24.00 in a report on Thursday, August 15th. Finally, Citigroup raised shares of Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 price objective on the stock in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.10.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $22.73 on Monday. The stock’s fifty day moving average is $20.59 and its two-hundred day moving average is $19.98. The firm has a market capitalization of $19.98 billion, a P/E ratio of 151.53 and a beta of 1.82. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating 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 firm had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. During the same quarter in the previous year, the company posted $0.03 EPS. The company’s revenue was up 40.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.76 EPS for the current year.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 120,236 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $22.20, for a total value of $2,669,239.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Baiju Bhatt sold 120,236 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $22.20, for a total value of $2,669,239.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $22.50, for a total transaction of $5,625,000.00. The disclosure for this sale can be found here. Insiders sold 1,204,096 shares of company stock worth $23,603,793 in the last 90 days. Insiders own 19.95% of the company’s stock.

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.