Assetmark Inc. Grows Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Assetmark Inc. boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 18,235.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,431 shares of the company's stock after acquiring an additional 115,796 shares during the period. Assetmark Inc.'s holdings in Robinhood Markets were worth $4,846,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC boosted its holdings in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets during the first quarter worth approximately $30,000. CoreCap Advisors LLC raised its position in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the period. Colonial Trust Co SC acquired a new position in shares of Robinhood Markets during the fourth quarter worth approximately $34,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after purchasing an additional 498 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the transaction, the insider owned 228,621 shares in the company, valued at $16,035,476.94. This trade represents a 31.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the firm'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 disclosure for this sale can be found here. Insiders sold a total of 3,026,690 shares of company stock worth $257,160,102 in the last quarter. 19.95% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of research reports. Cantor Fitzgerald upped their target price on Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Piper Sandler upped their target price on Robinhood Markets from $70.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. KeyCorp upped their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Compass Point increased their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. One 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $85.29.

Robinhood Markets Trading Down 3.2%

Shares of HOOD stock traded down $3.45 on Tuesday, hitting $103.32. 30,420,503 shares of the stock were exchanged, compared to its average volume of 51,580,348. The firm has a market capitalization of $91.49 billion, a PE ratio of 58.70, a P/E/G ratio of 5.44 and a beta of 2.36. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $113.44. The firm's 50 day moving average is $84.57 and its two-hundred day moving average is $60.74.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted 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 return on equity of 15.42% and a net margin of 48.77%. The firm 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 posted $0.18 EPS. The firm's revenue was up 50.0% compared to the same quarter last year. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.