Cresset Asset Management LLC Lowers Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cresset Asset Management LLC trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,127 shares of the company's stock after selling 12,489 shares during the quarter. Cresset Asset Management LLC's holdings in Robinhood Markets were worth $3,209,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets in the fourth quarter worth about $26,000. Creative Financial Designs Inc. ADV increased its stake in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after purchasing an additional 750 shares in the last quarter. Silicon Valley Capital Partners acquired a new position in Robinhood Markets in the 4th quarter worth about $37,000. Bogart Wealth LLC purchased a new position in Robinhood Markets during the fourth quarter worth approximately $37,000. Finally, Spire Wealth Management grew its holdings in Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after purchasing an additional 549 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $47.69, for a total transaction of $1,192,250.00. Following the completion of the sale, the insider now directly owns 797,825 shares in the company, valued at $38,048,274.25. This trade represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the transaction, the director now owns 5,042 shares in the company, valued at approximately $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,243,727 shares of company stock valued at $109,688,747 over the last quarter. 19.95% of the stock is owned by insiders.

Robinhood Markets Trading Up 8.2 %

Shares of HOOD stock opened at $54.07 on Friday. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The company's 50-day moving average price is $43.21 and its 200-day moving average price is $42.20. The stock has a market cap of $47.88 billion, a price-to-earnings ratio of 34.44, a PEG ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business's quarterly revenue was up 50.0% on a year-over-year basis. During the same period last year, the company earned $0.18 EPS. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Citigroup decreased their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Cantor Fitzgerald cut their target price on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Finally, Barclays cut their price objective on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and an average target price of $53.24.

Robinhood Markets 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.

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