Ballentine Partners LLC Invests $270,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Ballentine Partners LLC 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 6,476 shares of the company's stock, valued at approximately $270,000.

A number of other hedge funds have also modified their holdings of HOOD. Whipplewood Advisors LLC boosted its position in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Robinhood Markets during the first quarter worth approximately $30,000. CoreCap Advisors LLC increased its stake in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV increased its stake in shares of Robinhood Markets by 750.0% during 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 during the period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after acquiring an additional 498 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HOOD. Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 27th. JMP Securities raised their price objective on Robinhood Markets from $70.00 to $125.00 and gave the company a "market outperform" rating in a report on Monday. Cantor Fitzgerald lifted their target price on Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Compass Point boosted their price objective on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, Mizuho boosted their target price on Robinhood Markets from $80.00 to $99.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus target price of $85.29.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 sale, the director owned 7,863 shares in the company, valued at approximately $506,848.98. This represents a 98.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,364,145 shares of company stock worth $181,837,741. Insiders own 14.47% of the company's stock.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD traded up $2.20 during midday trading on Thursday, reaching $105.45. The company's stock had a trading volume of 38,903,319 shares, compared to its average volume of 30,743,378. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $106.62. The firm has a 50 day moving average price of $76.60 and a 200-day moving average price of $56.58. The stock has a market capitalization of $93.37 billion, a P/E ratio of 80.04, a PEG ratio of 5.26 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced 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 15.42% and a net margin of 48.77%. The business had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same quarter in the previous year, the firm earned $0.18 EPS. Robinhood Markets's quarterly revenue was up 50.0% on a year-over-year basis. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.