Clarus Wealth Advisors Takes $915,000 Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Clarus Wealth Advisors acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 21,681 shares of the company's stock, valued at approximately $915,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC increased its stake in Robinhood Markets by 88.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 24,825 shares of the company's stock valued at $925,000 after buying an additional 11,650 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $515,000. Chicago Partners Investment Group LLC bought a new stake in Robinhood Markets during the fourth quarter worth about $322,000. SYM FINANCIAL Corp acquired a new position in Robinhood Markets during the fourth quarter valued at approximately $222,000. Finally, Spire Wealth Management grew its stake 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 in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total value of $26,966,067.48. Following the completion of the sale, the director now directly owns 7,863 shares in the company, valued at $506,848.98. This represents a 98.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $43.36, for a total value of $253,786.08. Following the transaction, the chief technology officer now directly owns 11,706 shares in the company, valued at $507,572.16. The trade was a 33.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,096,884 shares of company stock worth $102,320,000 over the last ninety days. Corporate insiders own 14.47% of the company's stock.

Robinhood Markets Price Performance

HOOD traded up $0.55 during trading on Wednesday, hitting $72.27. The stock had a trading volume of 31,770,881 shares, compared to its average volume of 26,601,762. The company has a 50 day moving average price of $50.70 and a 200-day moving average price of $46.67. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $74.50. The firm has a market cap of $63.99 billion, a price-to-earnings ratio of 46.03, a P/E/G ratio of 1.05 and a beta of 2.15.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HOOD shares. The Goldman Sachs Group upped their price objective on Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Compass Point started coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They set a "buy" rating and a $61.00 target price on the stock. Citigroup cut their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Barclays lowered their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Finally, Morgan Stanley upped their target price on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $55.41.

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.