True Vision MN LLC Acquires Shares of 6,742 Robinhood Markets, Inc. (NASDAQ:HOOD)

True Vision MN LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,742 shares of the company's stock, valued at approximately $281,000.

Several other institutional investors also recently bought and sold shares of HOOD. Wealthcare Advisory Partners LLC acquired a new position in Robinhood Markets during the first quarter valued at $277,000. Fiduciary Alliance LLC purchased a new position in Robinhood Markets in the first quarter valued at $2,177,000. Invesco Ltd. increased its holdings in Robinhood Markets by 132.6% in the fourth quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock valued at $106,847,000 after buying an additional 1,634,599 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after buying an additional 3,994,745 shares in the last quarter. Finally, Syquant Capital Sas purchased a new position in Robinhood Markets in the first quarter valued at $445,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the sale, the director directly owned 7,863 shares of the company's stock, valued at $506,848.98. This represents a 98.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the sale, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,472,702 shares of company stock worth $179,396,832. 14.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HOOD. KeyCorp lifted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Morgan Stanley lifted their price objective 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. Cantor Fitzgerald boosted their target price on shares of Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Redburn Atlantic reissued a "sell" rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. One 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.06.

Robinhood Markets Stock Up 4.4%

NASDAQ:HOOD traded up $4.16 on Thursday, hitting $98.70. The stock had a trading volume of 49,588,566 shares, compared to its average volume of 30,078,172. The stock has a market cap of $87.40 billion, a price-to-earnings ratio of 56.08, a PEG ratio of 4.64 and a beta of 2.36. The company has a fifty day moving average price of $71.45 and a two-hundred day moving average price of $54.49. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $100.88.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The company had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The business's revenue was up 50.0% compared to the same quarter last year. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share 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.