Victory Capital Management Inc. Raises Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Victory Capital Management Inc. increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,116 shares of the company’s stock after buying an additional 6,551 shares during the quarter. Victory Capital Management Inc.’s holdings in Robinhood Markets were worth $753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale grew its holdings in shares of Robinhood Markets by 4.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock valued at $310,000 after buying an additional 1,060 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in Robinhood Markets by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 291,573 shares of the company’s stock valued at $2,860,000 after purchasing an additional 1,480 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Robinhood Markets by 6.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 23,591 shares of the company’s stock valued at $301,000 after purchasing an additional 1,494 shares during the period. Axxcess Wealth Management LLC raised its stake in shares of Robinhood Markets by 7.9% in the third quarter. Axxcess Wealth Management LLC now owns 21,998 shares of the company’s stock worth $216,000 after purchasing an additional 1,606 shares during the last quarter. Finally, FDx Advisors Inc. lifted its holdings in shares of Robinhood Markets by 8.5% during the third quarter. FDx Advisors Inc. now owns 21,570 shares of the company’s stock worth $212,000 after purchasing an additional 1,698 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JMP Securities restated a “market outperform” rating and set a $30.00 price objective on shares of Robinhood Markets in a research note on Thursday, May 16th. The Goldman Sachs Group increased their price target on Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Mizuho boosted their price objective on Robinhood Markets from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, May 6th. TheStreet upgraded Robinhood Markets from a “d+” rating to a “c-” rating in a research note on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Robinhood Markets from $12.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, March 19th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.75.

Robinhood Markets Stock Performance

Shares of HOOD opened at $19.66 on Thursday. The stock has a 50 day moving average price of $18.23 and a 200 day moving average price of $14.06. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $21.21. The stock has a market capitalization of $17.28 billion, a price-to-earnings ratio of 131.07 and a beta of 1.74.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.13. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The firm had revenue of $618.00 million for the quarter, compared to the consensus estimate of $552.74 million. During the same period last year, the firm posted ($0.57) earnings per share. The company’s revenue for the quarter was up 40.1% on a year-over-year basis. On average, analysts predict that Robinhood Markets, Inc. will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jason Warnick sold 5,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.59, for a total value of $97,950.00. Following the completion of the sale, the chief financial officer now owns 1,002,407 shares of the company’s stock, valued at $19,637,153.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Steven M. Quirk sold 60,895 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $14.43, for a total value of $878,714.85. Following the completion of the sale, the insider now owns 350,769 shares of the company’s stock, valued at $5,061,596.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.59, for a total transaction of $97,950.00. Following the transaction, the chief financial officer now directly owns 1,002,407 shares in the company, valued at $19,637,153.13. The disclosure for this sale can be found here. Insiders have sold 2,389,796 shares of company stock valued at $39,166,952 in the last ninety days. 19.95% of the stock is currently owned by corporate insiders.

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.