Federated Hermes Inc. Acquires 638 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Federated Hermes Inc. grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 2.1% during the first quarter, Holdings Channel reports. The institutional investor owned 31,024 shares of the company’s stock after purchasing an additional 638 shares during the quarter. Federated Hermes Inc.’s holdings in Robinhood Markets were worth $1,291,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Whipplewood Advisors LLC boosted its position in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after buying an additional 508 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Robinhood Markets during the first quarter worth about $30,000. CoreCap Advisors LLC grew its stake in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Colonial Trust Co SC bought a new stake in shares of Robinhood Markets in the fourth quarter worth about $34,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock valued at $36,000 after purchasing an additional 498 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $105.65 on Thursday. The company has a market capitalization of $93.55 billion, a price-to-earnings ratio of 53.63, a price-to-earnings-growth ratio of 4.02 and a beta of 2.36. Robinhood Markets, Inc. has a one year low of $16.68 and a one year high of $113.44. The company’s 50-day moving average is $89.38 and its 200 day moving average is $63.12.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same quarter last year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was up 45.0% compared to the same quarter last year. As a group, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 385,485 shares of Robinhood Markets stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $101.90, for a total value of $39,280,921.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $104.73, for a total transaction of $614,136.72. Following the transaction, the chief technology officer owned 3,044 shares in the company, valued at $318,798.12. This represents a 65.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,830,629 shares of company stock worth $438,930,436 in the last 90 days. 14.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup increased their price objective on Robinhood Markets from $100.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Piper Sandler lifted their price target on shares of Robinhood Markets from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Cantor Fitzgerald boosted their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Finally, Mizuho boosted their price target on shares of Robinhood Markets from $99.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.29.

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.