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.
Check Out Our Latest Report on Robinhood Markets
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
(
Free Report)
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.
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