BG Investment Services Inc. Acquires Shares of 10,113 Robinhood Markets, Inc. (NASDAQ:HOOD)

BG Investment Services Inc. acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,113 shares of the company's stock, valued at approximately $421,000. Robinhood Markets makes up 0.5% of BG Investment Services Inc.'s portfolio, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HOOD. MetLife Investment Management LLC increased its holdings in shares of Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after purchasing an additional 171 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Robinhood Markets by 4.0% in the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after buying an additional 265 shares in the last quarter. Allworth Financial LP lifted its position in shares of Robinhood Markets by 23.4% during the 1st quarter. Allworth Financial LP now owns 1,401 shares of the company's stock valued at $58,000 after acquiring an additional 266 shares during the period. HighPoint Advisor Group LLC boosted its stake in shares of Robinhood Markets by 0.8% during the 1st quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock worth $1,520,000 after acquiring an additional 272 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in shares of Robinhood Markets by 1.1% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 28,850 shares of the company's stock worth $1,201,000 after acquiring an additional 320 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 385,485 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $101.90, for a total value of $39,280,921.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $93.51, for a total value of $548,342.64. Following the completion of the sale, the chief technology officer owned 8,908 shares of the company's stock, valued at approximately $832,987.08. This trade represents a 39.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,702,497 shares of company stock worth $218,984,952 in the last quarter. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets Stock Down 0.1%

Shares of NASDAQ:HOOD traded down $0.15 during midday trading on Thursday, reaching $101.93. The company's stock had a trading volume of 26,607,516 shares, compared to its average volume of 55,143,304. The firm has a market cap of $90.25 billion, a price-to-earnings ratio of 57.92, a price-to-earnings-growth ratio of 5.21 and a beta of 2.36. The business has a 50 day moving average price of $82.09 and a 200 day moving average price of $59.27. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $113.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates 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 analyst estimates of $917.12 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. The company's quarterly revenue was up 50.0% on a year-over-year basis. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HOOD has been the subject of several research reports. Cantor Fitzgerald lifted their price objective on Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. KeyCorp boosted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Needham & Company LLC reissued a "buy" rating and issued a $71.00 price objective on shares of Robinhood Markets in a research note on Tuesday, May 27th. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, Piper Sandler increased their price target on shares of Robinhood Markets from $70.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus target price of $85.29.

Robinhood Markets Company 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.