Brighton Jones LLC Makes New $244,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Brighton Jones LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,851 shares of the company's stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of HOOD. IFP Advisors Inc raised its stake in Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after purchasing an additional 3,769 shares during the period. Wealthcare Advisory Partners LLC purchased a new position in Robinhood Markets during the first quarter worth about $277,000. Charles Schwab Investment Management Inc. raised its stake in Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after purchasing an additional 138,267 shares during the period. Aigen Investment Management LP raised its stake in Robinhood Markets by 161.2% during the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock worth $3,199,000 after purchasing an additional 52,988 shares during the period. Finally, Allegiance Financial Group Advisory Services LLC purchased a new position in Robinhood Markets during the fourth quarter worth about $207,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

Shares of HOOD stock traded up $0.15 during trading on Friday, reaching $78.50. The company's stock had a trading volume of 37,155,167 shares, compared to its average volume of 27,640,166. The company has a market capitalization of $69.51 billion, a price-to-earnings ratio of 60.74, a P/E/G ratio of 4.62 and a beta of 2.25. The stock's 50-day moving average price is $59.21 and its 200 day moving average price is $49.74. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $79.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company's revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the transaction, the director now owns 7,863 shares of the company's stock, valued at $506,848.98. This trade represents a 98.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,421,593 shares of company stock worth $133,064,692. Corporate insiders own 14.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HOOD shares. Barclays reduced their target price 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. Morgan Stanley lifted their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. KeyCorp dropped their price target on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Mizuho lifted their price target on shares of Robinhood Markets from $65.00 to $80.00 and gave the company an "outperform" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $58.00.

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.