Renaissance Technologies LLC lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 37.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,651,700 shares of the company’s stock after acquiring an additional 2,094,800 shares during the quarter. Renaissance Technologies LLC owned 0.87% of Robinhood Markets worth $173,770,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI bought a new position in shares of Robinhood Markets during the 2nd quarter valued at $1,920,000. Dimensional Fund Advisors LP grew its stake in shares of Robinhood Markets by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock valued at $92,549,000 after purchasing an additional 112,967 shares during the period. O Neil Global Advisors Inc. purchased a new stake in shares of Robinhood Markets during the 2nd quarter valued at about $2,298,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Robinhood Markets by 110.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 49,260 shares of the company’s stock worth $1,117,000 after buying an additional 25,875 shares during the last quarter. Finally, Forsta AP Fonden bought a new stake in Robinhood Markets during the second quarter valued at approximately $2,251,000. Institutional investors own 93.27% of the company’s stock.
Robinhood Markets Trading Up 2.0 %
Shares of NASDAQ HOOD opened at $22.07 on Monday. The firm’s 50-day moving average price is $20.55 and its 200-day moving average price is $19.78. The stock has a market capitalization of $19.40 billion, a price-to-earnings ratio of 147.13 and a beta of 1.82. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $24.88.
Analysts Set New Price Targets
HOOD has been the topic of several analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Piper Sandler upgraded shares of Robinhood Markets from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $20.00 to $23.00 in a research note on Monday, August 12th. JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Finally, JMP Securities restated a “market outperform” rating and set a $30.00 target price on shares of Robinhood Markets in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Hold” and a consensus target price of $22.83.
Read Our Latest Stock Analysis on HOOD
Insider Activity at Robinhood Markets
In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $22.50, for a total value of $5,625,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $22.50, for a total value of $5,625,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Warnick sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the transaction, the chief financial officer now directly owns 1,077,162 shares in the company, valued at approximately $22,577,315.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,325,322 shares of company stock worth $26,225,912. Company 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.
Recommended Stories
- Five stocks we like better than Robinhood Markets
- What is Put Option Volume?
- Analysts See 51% Upside in Coinbase, Is It Time to Buy the Hype?
- Industrial Products Stocks Investing
- 3 Defensive Stock Alternatives to Bonds If Interest Rates Drop
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Symbotic’s Double-Bagger Potential as It Hits a Key Inflection
Receive News & Ratings for Robinhood Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Robinhood Markets and related companies with MarketBeat.com's FREE daily email newsletter.