Sei Investments Co. Raises Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Sei Investments Co. raised its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 109.2% during the 4th quarter, Holdings Channel reports. The firm owned 654,345 shares of the company’s stock after buying an additional 341,527 shares during the quarter. Sei Investments Co.’s holdings in Robinhood Markets were worth $24,382,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. FMR LLC boosted its position in Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares during the last quarter. State Street Corp boosted its holdings in shares of Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after acquiring an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after purchasing an additional 138,267 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Robinhood Markets by 19.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock valued at $179,463,000 after purchasing an additional 739,631 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $44.73 on Thursday. The business has a 50 day simple moving average of $49.33 and a two-hundred day simple moving average of $37.87. The stock has a market capitalization of $39.61 billion, a P/E ratio of 28.49, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HOOD shares. Citigroup lifted their price objective on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Piper Sandler lifted their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Raymond James started coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.29.

Insider Activity

In other news, Director Baiju Bhatt sold 47,023 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $46.37, for a total value of $2,180,456.51. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at $233,797.54. This represents a 90.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Insiders sold 2,955,655 shares of company stock worth $143,072,448 over the last three months. Insiders own 19.95% of the company’s stock.

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.