Franklin Resources Inc. Has $11.60 Million Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Franklin Resources Inc. increased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 15.3% during the fourth quarter, HoldingsChannel reports. The fund owned 311,225 shares of the company’s stock after buying an additional 41,348 shares during the period. Franklin Resources Inc.’s holdings in Robinhood Markets were worth $11,596,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets during the 4th quarter worth approximately $26,000. Creative Financial Designs Inc. ADV lifted its position in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares in the last quarter. Silicon Valley Capital Partners acquired a new position in Robinhood Markets during the fourth quarter worth $37,000. Bogart Wealth LLC bought a new position in Robinhood Markets in the fourth quarter valued at $37,000. Finally, Spire Wealth Management increased its stake in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after buying an additional 549 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Needham & Company LLC reduced their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Morgan Stanley cut Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price target 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. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. Finally, JMP Securities lowered their target price on shares of Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating on the stock in a report on Tuesday. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.06.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total value of $957,750.00. Following the transaction, the insider now owns 822,825 shares in the company, valued at $31,522,425.75. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $50.67, for a total value of $4,604,180.22. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $255,478.14. This represents a 94.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,646,134 shares of company stock valued at $132,604,246. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Down 3.5 %

Shares of HOOD opened at $34.17 on Wednesday. The business has a 50-day simple moving average of $47.26 and a two-hundred day simple moving average of $39.07. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The stock has a market cap of $30.26 billion, a PE ratio of 21.76, a PEG ratio of 1.05 and a beta of 2.17.

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

Robinhood Markets Company Profile

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.