Norden Group LLC Invests $248,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Norden Group LLC has acquired 5,952 shares of Robinhood Markets, Inc. for approximately $248,000, marking a significant investment in the company during Q1.
• Insider trading activity includes CEO Vladimir Tenev selling 750,000 shares and Director Baiju Bhatt selling 418,338 shares, highlighting a significant turnover of stock among leadership.
• Wall Street analysts have raised their price targets for Robinhood, with JMP Securities setting a target as high as $125.00, reflecting a bullish outlook on the company's growth potential.

Norden Group LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 5,952 shares of the company's stock, valued at approximately $248,000.

Other hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC grew its holdings in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Robinhood Markets during the 1st quarter worth $30,000. CoreCap Advisors LLC grew its stake in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after acquiring an additional 550 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after purchasing an additional 498 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 385,485 shares of Robinhood Markets stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $101.90, for a total transaction of $39,280,921.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 92,257 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total value of $7,838,154.72. Following the transaction, the insider owned 136,364 shares of the company's stock, valued at approximately $11,585,485.44. The trade was a 40.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,026,690 shares of company stock worth $257,160,102 in the last ninety days. Insiders own 14.47% of the company's stock.

Robinhood Markets Stock Down 3.1%

HOOD traded down $3.15 on Friday, hitting $99.90. The company's stock had a trading volume of 76,566,177 shares, compared to its average volume of 43,469,824. The company's 50 day simple moving average is $86.92 and its 200-day simple moving average is $61.89. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $113.44. The firm has a market cap of $88.46 billion, a P/E ratio of 50.71, a price-to-earnings-growth ratio of 5.19 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.69% and a net margin of 50.13%. The business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same quarter last year, the company earned $0.21 EPS. The firm's revenue was up 45.0% compared to the same quarter last year. Equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on HOOD shares. Compass Point boosted their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Morgan Stanley boosted their target price on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Citigroup increased their price target on Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday. Barclays lifted their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, JMP Securities upped their price objective on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $96.29.

About Robinhood Markets

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.