Franklin Resources Inc. Increases Holdings in Robinhood Markets, Inc. $HOOD

Franklin Resources Inc. lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOODFree Report) by 18.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,754,896 shares of the company’s stock after buying an additional 434,524 shares during the period. Franklin Resources Inc. owned about 0.31% of Robinhood Markets worth $311,579,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vision Financial Markets LLC raised its holdings in shares of Robinhood Markets by 100.0% during the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. CYBER HORNET ETFs LLC raised its holdings in shares of Robinhood Markets by 527.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after buying an additional 190 shares in the last quarter. Elyxium Wealth LLC purchased a new position in shares of Robinhood Markets during the 4th quarter valued at about $27,000. Sound Income Strategies LLC raised its holdings in shares of Robinhood Markets by 152.6% during the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after buying an additional 145 shares in the last quarter. Finally, Godsey & Gibb Inc. purchased a new position in shares of Robinhood Markets during the 4th quarter valued at about $28,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Loop Capital set a $94.00 price target on Robinhood Markets in a research report on Wednesday, May 27th. Cantor Fitzgerald restated an “overweight” rating and set a $110.00 price target on shares of Robinhood Markets in a research report on Tuesday. Mizuho raised their price target on Robinhood Markets from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Wall Street Zen lowered Robinhood Markets from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Finally, Argus reduced their price target on Robinhood Markets from $102.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Eighteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.18.

Check Out Our Latest Report on Robinhood Markets

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 67,422 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka acquired 250,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was acquired at an average price of $80.74 per share, for a total transaction of $20,185,000.00. Following the completion of the transaction, the director owned 3,924,427 shares in the company, valued at approximately $316,858,235.98. The trade was a 6.80% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 680,000 shares of company stock worth $55,306,560 and sold 571,602 shares worth $41,959,746. 19.95% of the stock is owned by corporate insiders.

Key Robinhood Markets News

Here are the key news stories impacting Robinhood Markets this week:

Robinhood Markets Price Performance

HOOD opened at $83.77 on Wednesday. The stock’s 50 day simple moving average is $78.74 and its 200 day simple moving average is $92.42. Robinhood Markets, Inc. has a 1 year low of $63.51 and a 1 year high of $153.86. The firm has a market cap of $75.44 billion, a price-to-earnings ratio of 40.47, a PEG ratio of 2.53 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOODGet Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.Robinhood Markets’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.86 EPS for the current year.

Robinhood Markets Company Profile

(Free Report)

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.

See Also

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Institutional Ownership by Quarter for Robinhood Markets (NASDAQ:HOOD)

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