Brown Wealth Management LLC Invests $427,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Brown Wealth Management LLC has invested approximately $427,000 in Robinhood Markets, acquiring 10,257 shares of the company during the first quarter.
• Recent insider trading shows that CTO Jeffrey Tsvi Pinner sold 5,864 shares valued at over $548,000, reflecting a significant decrease in his ownership.
• Analyst ratings for Robinhood Markets have improved, with several brokerages raising their target prices, indicating a consensus rating of "Moderate Buy" with an average price target of $85.29.

Brown Wealth Management LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,257 shares of the company's stock, valued at approximately $427,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Robinhood Markets during the fourth quarter worth about $314,000. American Century Companies Inc. increased its stake in shares of Robinhood Markets by 73.4% during the fourth quarter. American Century Companies Inc. now owns 90,922 shares of the company's stock worth $3,388,000 after acquiring an additional 38,495 shares during the period. Modern Wealth Management LLC acquired a new position in shares of Robinhood Markets during the fourth quarter worth about $225,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Robinhood Markets during the fourth quarter worth about $257,000. Finally, Ausdal Financial Partners Inc. acquired a new position in shares of Robinhood Markets during the fourth quarter worth about $225,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $93.51, for a total value of $548,342.64. Following the transaction, the chief technology officer directly owned 8,908 shares in the company, valued at $832,987.08. This trade represents a 39.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven M. Quirk sold 92,257 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total value of $7,838,154.72. Following the sale, the insider directly owned 136,364 shares in the company, valued at approximately $11,585,485.44. This represents a 40.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,696,644 shares of company stock worth $218,696,575 over the last three months. Corporate insiders own 14.47% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HOOD. Cantor Fitzgerald upped their target price on shares of Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Mizuho upped their target price 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. Citigroup upped their target price on shares of Robinhood Markets from $50.00 to $100.00 and gave the stock a "neutral" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. upped 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 upped their price objective on shares of Robinhood Markets from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $85.29.

Robinhood Markets Stock Up 2.9%

Shares of HOOD stock opened at $104.85 on Friday. The business has a 50-day moving average price of $82.95 and a two-hundred day moving average price of $59.71. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $113.44. The firm has a market cap of $92.84 billion, a P/E ratio of 59.57, a price-to-earnings-growth ratio of 5.20 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share 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 analysts' expectations of $917.12 million. The firm's revenue was up 50.0% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. As a group, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

About Robinhood Markets

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.

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