Hartline Investment Corp Purchases 8,960 Shares of Robinhood Markets, Inc. $HOOD

Hartline Investment Corp grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 13.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,003 shares of the company’s stock after acquiring an additional 8,960 shares during the period. Robinhood Markets comprises 0.9% of Hartline Investment Corp’s portfolio, making the stock its 26th largest position. Hartline Investment Corp’s holdings in Robinhood Markets were worth $8,370,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of HOOD. Empowered Funds LLC raised its stake in shares of Robinhood Markets by 46.7% during the first quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock valued at $2,076,000 after acquiring an additional 15,885 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Robinhood Markets during the second quarter valued at about $5,105,000. Federated Hermes Inc. raised its stake in shares of Robinhood Markets by 106.2% during the second quarter. Federated Hermes Inc. now owns 63,957 shares of the company’s stock valued at $5,988,000 after acquiring an additional 32,933 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Robinhood Markets by 19.1% during the second quarter. NewEdge Advisors LLC now owns 89,676 shares of the company’s stock valued at $8,396,000 after acquiring an additional 14,356 shares during the last quarter. Finally, Nebula Research & Development LLC bought a new position in shares of Robinhood Markets during the second quarter valued at about $1,316,000. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HOOD. Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a research note on Monday, February 9th. Truist Financial reduced their price target on shares of Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Keefe, Bruyette & Woods reduced their price target on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. The Goldman Sachs Group reduced their price target on shares of Robinhood Markets from $102.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Finally, New Street Research set a $122.00 price target on shares of Robinhood Markets in a research report on Thursday, March 5th. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.88.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $73.64 on Friday. Robinhood Markets, Inc. has a 1 year low of $62.63 and a 1 year high of $153.86. The company’s 50-day moving average is $76.11 and its 200 day moving average is $96.47. The stock has a market capitalization of $66.31 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.39 and a beta of 2.29.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. 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 firm earned $0.37 EPS. Research analysts anticipate that Robinhood Markets, Inc. will post 1.95 earnings per share for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Steven M. Quirk sold 8,540 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $84.93, for a total value of $725,302.20. Following the sale, the insider owned 53,183 shares in the company, valued at approximately $4,516,832.19. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 5,436 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $77.36, for a total transaction of $420,528.96. Following the completion of the sale, the chief financial officer owned 47,311 shares in the company, valued at approximately $3,659,978.96. This trade represents a 10.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 560,765 shares of company stock valued at $40,946,840. Insiders own 14.47% of the company’s stock.

Robinhood Markets Company Profile

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.