Axxcess Wealth Management LLC Raises Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Axxcess Wealth Management LLC boosted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 33.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,237 shares of the company's stock after acquiring an additional 4,352 shares during the period. Axxcess Wealth Management LLC's holdings in Robinhood Markets were worth $717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HOOD. Whipplewood Advisors LLC increased its position in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets in the 1st quarter valued at about $30,000. CoreCap Advisors LLC boosted its holdings in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after buying an additional 750 shares in the last quarter. Finally, Colonial Trust Co SC bought a new stake in shares of Robinhood Markets in the 4th quarter valued at about $34,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Trading Down 0.4%

NASDAQ HOOD traded down $0.36 on Friday, hitting $98.34. 60,149,672 shares of the company's stock traded hands, compared to its average volume of 30,346,786. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $101.50. The firm's 50-day moving average price is $73.48 and its two-hundred day moving average price is $55.42. The firm has a market capitalization of $87.08 billion, a PE ratio of 55.88, a P/E/G ratio of 5.30 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS 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 business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The business's revenue was up 50.0% on a year-over-year basis. On average, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on HOOD shares. Citigroup raised their price target on shares of Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a report on Monday, July 7th. Barclays raised their price target on shares of Robinhood Markets from $57.00 to $102.00 and gave the company an "overweight" rating in a report on Thursday. Morgan Stanley raised their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. The Goldman Sachs Group raised their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a report on Monday, July 7th. Finally, Mizuho raised their price target on shares of Robinhood Markets from $80.00 to $99.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. One investment 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.06.

Insider Activity

In other news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the completion of the transaction, the director directly owned 7,863 shares of the company's stock, valued at $506,848.98. The trade was a 98.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction that occurred on 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 transaction, the insider directly owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. This trade represents a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,472,702 shares of company stock valued at $179,396,832 in the last three months. 14.47% of the stock is currently owned by corporate 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.