True Vision MN LLC Acquires New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

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

A number of other institutional investors and hedge funds have also bought and sold shares of HOOD. Jones Financial Companies Lllp boosted its position in Robinhood Markets by 1,631.5% in the fourth quarter. Jones Financial Companies Lllp now owns 3,463 shares of the company's stock worth $129,000 after purchasing an additional 3,263 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Robinhood Markets by 43.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 14,028 shares of the company's stock valued at $523,000 after buying an additional 4,228 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Robinhood Markets by 87.6% during the 4th quarter. Victory Capital Management Inc. now owns 220,160 shares of the company's stock valued at $8,203,000 after buying an additional 102,777 shares during the last quarter. M&T Bank Corp lifted its position in shares of Robinhood Markets by 7.2% during the 4th quarter. M&T Bank Corp now owns 30,379 shares of the company's stock valued at $1,132,000 after buying an additional 2,034 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Robinhood Markets during the 4th quarter valued at $2,367,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of recent research reports. KeyCorp upped their price target on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group upped their target price on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research note on Monday. JPMorgan Chase & Co. increased their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Citigroup increased their price objective on Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Cantor Fitzgerald increased their target price on Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $76.06.

Robinhood Markets Trading Up 1.1%

Shares of NASDAQ HOOD traded up $1.13 during mid-day trading on Friday, reaching $99.83. The company had a trading volume of 45,062,769 shares, compared to its average volume of 30,148,284. The business's 50-day moving average is $72.49 and its 200-day moving average is $54.91. The stock has a market cap of $88.40 billion, a price-to-earnings ratio of 56.87, a price-to-earnings-growth ratio of 4.77 and a beta of 2.36. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $101.46.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (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 business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. The firm's revenue was up 50.0% on a year-over-year basis. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Christopher D. Payne purchased 26,500 shares of the firm's stock in a transaction on Friday, June 13th. The stock was acquired at an average cost of $74.19 per share, with a total value of $1,966,035.00. Following the completion of the transaction, the director owned 26,500 shares in the company, valued at $1,966,035. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,472,702 shares of company stock valued at $179,396,832. 14.47% of the stock is currently owned by corporate insiders.

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.