Bleakley Financial Group LLC Increases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Bleakley Financial Group LLC boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 43.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,681 shares of the company's stock after purchasing an additional 3,248 shares during the quarter. Bleakley Financial Group LLC's holdings in Robinhood Markets were worth $445,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Whipplewood Advisors LLC grew its holdings in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Robinhood Markets during the first quarter worth about $30,000. CoreCap Advisors LLC boosted its holdings in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new position in Robinhood Markets during the fourth quarter worth about $34,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total value of $26,966,067.48. Following the completion of the sale, the director owned 7,863 shares of the company's stock, valued at approximately $506,848.98. This represents a 98.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The disclosure for this sale can be found here. Insiders sold a total of 2,364,145 shares of company stock valued at $181,837,741 in the last quarter. Corporate insiders own 14.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HOOD shares. Compass Point boosted their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Barclays lifted their price objective on shares of Robinhood Markets from $57.00 to $102.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Piper Sandler lifted their price objective on shares of Robinhood Markets from $70.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday. JMP Securities lifted their price objective on shares of Robinhood Markets from $70.00 to $125.00 and gave the stock a "market outperform" rating in a research report on Monday. Finally, Mizuho lifted their price objective on shares of Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $85.29.

Robinhood Markets Price Performance

HOOD stock traded up $2.20 during midday trading on Thursday, reaching $105.45. The company had a trading volume of 38,903,319 shares, compared to its average volume of 30,743,378. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $106.62. The company has a market capitalization of $93.37 billion, a P/E ratio of 80.04, a P/E/G ratio of 5.26 and a beta of 2.36. The firm has a 50-day moving average price of $76.60 and a 200-day moving average price of $56.58.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results 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 company had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same period in the prior year, the firm earned $0.18 EPS. Robinhood Markets's quarterly revenue was up 50.0% on a year-over-year basis. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.