7,211 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Acquired by Marest Capital LLC

Marest Capital LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,211 shares of the company's stock, valued at approximately $300,000. Robinhood Markets comprises approximately 0.2% of Marest Capital LLC's portfolio, making the stock its 21st largest position.

Several other hedge funds have also modified their holdings of the stock. IFP Advisors Inc raised its holdings in Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock valued at $164,000 after buying an additional 3,769 shares during the period. Wealthcare Advisory Partners LLC purchased a new position in Robinhood Markets in the first quarter valued at approximately $277,000. Charles Schwab Investment Management Inc. raised its holdings in Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock valued at $175,857,000 after buying an additional 138,267 shares during the period. Aigen Investment Management LP raised its holdings in Robinhood Markets by 161.2% in the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock valued at $3,199,000 after buying an additional 52,988 shares during the period. Finally, Allegiance Financial Group Advisory Services LLC purchased a new position in Robinhood Markets in the fourth quarter valued at approximately $207,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Needham & Company LLC restated a "buy" rating and issued a $71.00 price target on shares of Robinhood Markets in a report on Tuesday, May 27th. JMP Securities restated a "market outperform" rating and issued a $70.00 price target on shares of Robinhood Markets in a report on Thursday, May 1st. Compass Point assumed coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective on the stock. Citigroup dropped their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, KeyCorp dropped their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $58.00.

Robinhood Markets Trading Down 2.3%

Shares of NASDAQ:HOOD opened at $74.95 on Wednesday. The company has a fifty day simple moving average of $57.73 and a 200 day simple moving average of $49.26. The firm has a market cap of $66.37 billion, a PE ratio of 42.59, a price-to-earnings-growth ratio of 4.53 and a beta of 2.25. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $77.80.

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

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 223,528 shares of Robinhood Markets stock in a transaction on Friday, March 21st. The shares were sold at an average price of $43.21, for a total value of $9,658,644.88. Following the completion of the transaction, the director now owns 5,042 shares of the company's stock, valued at $217,864.82. The trade was a 97.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,650,974 shares of company stock worth $142,977,123. Insiders own 19.95% of the company's stock.

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.

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