Axxcess Wealth Management LLC Grows Stock Position in Robinhood Markets, Inc. $HOOD

Key Points

• Axxcess Wealth Management boosted its Robinhood stake by 155.8% in the fourth quarter, ending with 70,962 shares valued at about $8.0 million. Other institutional investors also increased holdings, and hedge funds and institutions own 93.27% of the stock.
• Robinhood reported Q1 earnings of $0.38 per share, slightly below estimates, on revenue of $1.07 billion versus the expected $1.14 billion. Even so, revenue rose 15.1% from a year earlier, and analysts still expect full-year EPS of 1.95.
• Insiders have been selling shares, including CTO Jeffrey Tsvi Pinner and Director Baiju Bhatt, with total insider sales of $40.9 million over the last quarter. Wall Street remains cautiously positive overall, with an average Moderate Buy rating and a consensus price target of $107.88.

Axxcess Wealth Management LLC increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 155.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,962 shares of the company's stock after buying an additional 43,224 shares during the quarter. Axxcess Wealth Management LLC's holdings in Robinhood Markets were worth $8,026,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. First Command Advisory Services Inc. raised its holdings in shares of Robinhood Markets by 33.8% in the 3rd quarter. First Command Advisory Services Inc. now owns 321 shares of the company's stock worth $46,000 after purchasing an additional 81 shares during the period. Evolution Wealth Advisors LLC raised its holdings in shares of Robinhood Markets by 5.2% in the 4th quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company's stock worth $217,000 after purchasing an additional 95 shares during the period. CogentBlue Wealth Advisors LLC raised its holdings in shares of Robinhood Markets by 4.1% in the 4th quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company's stock worth $282,000 after purchasing an additional 98 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company's stock worth $27,000 after purchasing an additional 99 shares during the period. Finally, Vision Financial Markets LLC raised its holdings in shares of Robinhood Markets by 100.0% in the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company's stock worth $29,000 after purchasing an additional 100 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

HOOD stock opened at $73.64 on Friday. Robinhood Markets, Inc. has a 1 year low of $62.63 and a 1 year high of $153.86. The stock has a 50-day simple moving average of $76.11 and a 200-day simple moving average of $96.47. The firm has a market cap of $66.31 billion, a P/E ratio of 35.58, a price-to-earnings-growth ratio of 2.39 and a beta of 2.29.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $0.37 EPS. Robinhood Markets's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.95 EPS for the current year.

Insider Activity

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,835 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $83.92, for a total transaction of $489,673.20. Following the completion of the sale, the chief technology officer owned 12,171 shares in the company, valued at $1,021,390.32. This trade represents a 32.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total value of $5,082,270.36. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 560,765 shares of company stock worth $40,946,840 over the last quarter. Corporate insiders own 14.47% of the company's stock.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of research reports. Morgan Stanley cut their price objective on Robinhood Markets from $147.00 to $95.00 and set an "equal weight" rating on the stock in a report on Friday, April 10th. Truist Financial cut their price objective on Robinhood Markets from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, April 13th. Keefe, Bruyette & Woods cut their price objective on Robinhood Markets from $75.00 to $65.00 and set a "market perform" rating on the stock in a report on Wednesday, April 29th. JPMorgan Chase & Co. cut their price objective on Robinhood Markets from $113.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, April 23rd. Finally, Wolfe Research upgraded Robinhood Markets from a "peer perform" rating to an "outperform" rating and set a $125.00 price objective on the stock in a report on Monday, February 9th. Eighteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $107.88.

Robinhood Markets Profile

Robinhood Markets, Inc NASDAQ: HOOD is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to "democratize finance for all." Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood's core products and services include a mobile app and web platform for trading U.S.

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