9,248 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Acquired by Accuvest Global Advisors

Key Points

• Accuvest Global Advisors has initiated a new investment in Robinhood Markets, purchasing 9,248 shares valued at approximately $385,000.
• Several institutional investors, including Whipplewood Advisors LLC and Hemington Wealth Management, have significantly increased their holdings in Robinhood, contributing to a total institutional ownership of 93.27%.
• Analysts have raised their price targets for Robinhood stocks; Piper Sandler and Needham & Company now set targets at $120.00, while the consensus rating remains a "Moderate Buy" with an average target of $96.29.

Accuvest Global Advisors bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,248 shares of the company's stock, valued at approximately $385,000.

A number of other hedge funds have also bought and sold shares of the company. Headlands Technologies LLC raised its stake in Robinhood Markets by 380.0% during the first quarter. Headlands Technologies LLC now owns 163,350 shares of the company's stock worth $6,799,000 after buying an additional 129,316 shares during the last quarter. Deutsche Bank AG raised its stake in Robinhood Markets by 137.6% during the first quarter. Deutsche Bank AG now owns 1,761,767 shares of the company's stock worth $73,325,000 after buying an additional 1,020,286 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Robinhood Markets by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock valued at $201,913,000 after purchasing an additional 131,620 shares in the last quarter. Evolution Wealth Advisors LLC increased its stake in Robinhood Markets by 27.7% in the first quarter. Evolution Wealth Advisors LLC now owns 8,306 shares of the company's stock valued at $346,000 after purchasing an additional 1,800 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in Robinhood Markets in the first quarter valued at $1,245,000. Institutional investors own 93.27% of the company's stock.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the transaction, the insider 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. Insiders have sold 4,752,293 shares of company stock valued at $436,586,556 in the last three months. Insiders own 14.47% of the company's stock.

Robinhood Markets Stock Up 3.1%

Robinhood Markets stock traded up $3.40 during midday trading on Friday, hitting $114.63. 41,800,875 shares of the stock were exchanged, compared to its average volume of 45,111,400. Robinhood Markets, Inc. has a 52-week low of $17.55 and a 52-week high of $117.00. The stock has a market capitalization of $101.87 billion, a price-to-earnings ratio of 58.19, a price-to-earnings-growth ratio of 4.24 and a beta of 2.36. The business's 50-day moving average price is $91.32 and its 200-day moving average price is $64.00.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. During the same period in the previous year, the company earned $0.21 earnings per share. The firm's revenue for the quarter was up 45.0% compared to the same quarter last year. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

HOOD has been the subject of several research analyst reports. Morgan Stanley lifted their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. KeyCorp lifted their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. JMP Securities lifted their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Finally, Cantor Fitzgerald lifted their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.29.

Robinhood Markets Profile

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.