Balboa Wealth Partners Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Balboa Wealth Partners purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,601 shares of the company's stock, valued at approximately $400,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HOOD. IFP Advisors Inc grew its stake in Robinhood Markets by 601.1% in the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after buying an additional 3,769 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in Robinhood Markets during the 1st quarter valued at $277,000. Charles Schwab Investment Management Inc. raised its holdings in Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after purchasing an additional 138,267 shares in the last quarter. Aigen Investment Management LP raised its holdings in Robinhood Markets by 161.2% in the 4th quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock worth $3,199,000 after purchasing an additional 52,988 shares in the last quarter. Finally, Allegiance Financial Group Advisory Services LLC bought a new position in Robinhood Markets in the 4th quarter worth $207,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $76.35 on Tuesday. The stock has a market capitalization of $67.60 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 4.63 and a beta of 2.25. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $79.38. The firm's 50 day simple moving average is $60.55 and its 200-day simple moving average is $50.41.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $917.12 million. During the same period in the prior year, the business posted $0.18 EPS. Robinhood Markets's revenue was up 50.0% compared to the same quarter last year. Analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays decreased their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. 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. Cantor Fitzgerald dropped their price objective on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Finally, Citigroup decreased their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $58.00.

Insider Activity

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the transaction, the chief technology officer now owns 5,853 shares of the company's stock, valued at approximately $201,987.03. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,374,570 shares of company stock valued at $130,884,235. 19.95% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.