Alta Wealth Advisors LLC Buys Shares of 6,181 Robinhood Markets, Inc. (NASDAQ:HOOD)

Alta Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,181 shares of the company's stock, valued at approximately $257,000.

Other large investors also recently made changes to their positions in the company. SFG Wealth Management LLC. purchased a new stake in Robinhood Markets in the 1st quarter valued at about $212,000. Creative Financial Designs Inc. ADV grew its holdings in shares of Robinhood Markets by 71.2% in the first quarter. Creative Financial Designs Inc. ADV now owns 1,455 shares of the company's stock valued at $61,000 after acquiring an additional 605 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Robinhood Markets by 72.2% during the first quarter. Sequoia Financial Advisors LLC now owns 10,426 shares of the company's stock valued at $434,000 after acquiring an additional 4,370 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in Robinhood Markets during the first quarter worth $233,000. Finally, Generate Investment Management Ltd lifted its holdings in Robinhood Markets by 13.9% during the first quarter. Generate Investment Management Ltd now owns 367,717 shares of the company's stock worth $15,304,000 after acquiring an additional 44,980 shares during the period. 93.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on HOOD shares. Deutsche Bank Aktiengesellschaft upped their price objective on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. JMP Securities restated a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research report on Thursday, May 1st. The Goldman Sachs Group raised their price objective on shares of Robinhood Markets from $82.00 to $91.00 and gave the stock a "buy" rating in a report on Friday. Compass Point lifted their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday. Finally, KeyCorp reduced their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average target price of $62.29.

Robinhood Markets Stock Performance

HOOD stock traded down $1.49 during midday trading on Friday, reaching $83.03. 36,890,636 shares of the company's stock traded hands, compared to its average volume of 27,957,341. The firm has a market capitalization of $73.52 billion, a PE ratio of 47.18, a price-to-earnings-growth ratio of 4.88 and a beta of 2.25. The company has a 50-day moving average price of $63.01 and a two-hundred day moving average price of $51.16. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $85.55.

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

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total value of $957,750.00. Following the transaction, the insider now owns 822,825 shares of the company's stock, valued at approximately $31,522,425.75. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $34.51, for a total value of $201,987.03. Following the completion of the sale, the chief technology officer now owns 5,853 shares in the company, valued at $201,987.03. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,380,434 shares of company stock worth $131,340,572 in the last quarter. 14.47% of the stock is owned by company insiders.

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.