Benjamin Edwards Inc. Has $2.25 Million Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Benjamin Edwards Inc. has reduced its stake in Robinhood Markets, Inc. by 16.1% during the 1st quarter, now holding 53,934 shares valued at approximately $2.25 million.
• New investments in Robinhood Markets were made by various firms, including Koss Olinger Consulting LLC and Connor Clark & Lunn Investment Management Ltd., while Townsquare Capital LLC significantly increased its stake by 45.1%.
• Robinhood's quarterly earnings exceeded estimates, reporting a profit of $0.42 EPS, and the stock saw a significant jump in revenue, increasing by 45.0% year-over-year.

Benjamin Edwards Inc. lessened its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 16.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 53,934 shares of the company's stock after selling 10,363 shares during the quarter. Benjamin Edwards Inc.'s holdings in Robinhood Markets were worth $2,245,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after buying an additional 5,874,701 shares in the last quarter. Newlands Management Operations LLC raised its stake in shares of Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after buying an additional 273,860 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Robinhood Markets by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock worth $398,667,000 after buying an additional 52,700 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Robinhood Markets by 231.9% during the fourth quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock worth $195,907,000 after purchasing an additional 3,673,861 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after purchasing an additional 3,994,745 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Piper Sandler boosted their target price on Robinhood Markets from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Compass Point boosted their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Morgan Stanley boosted their target price on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, JMP Securities boosted their target price on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $96.29.

Robinhood Markets Price Performance

Shares of HOOD traded up $0.47 during midday trading on Tuesday, hitting $114.09. The stock had a trading volume of 31,456,289 shares, compared to its average volume of 43,669,040. The company has a 50 day simple moving average of $93.08 and a two-hundred day simple moving average of $64.97. Robinhood Markets, Inc. has a twelve month low of $18.36 and a twelve month high of $117.70. The firm has a market cap of $101.39 billion, a price-to-earnings ratio of 57.91, a price-to-earnings-growth ratio of 4.33 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. The firm had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same quarter last year, the business posted $0.21 EPS. The company's revenue for the quarter was up 45.0% on a year-over-year basis. Analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $104.73, for a total transaction of $614,136.72. Following the completion of the transaction, the chief technology officer directly owned 3,044 shares of the company's stock, valued at approximately $318,798.12. This represents a 65.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $104.23, for a total value of $2,605,750.00. Following the sale, the insider owned 566,887 shares in the company, valued at approximately $59,086,632.01. This represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,644,685 shares of company stock valued at $430,085,957 in the last quarter. 19.95% 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.