Cambridge Investment Research Advisors Inc. Purchases 24,075 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Cambridge Investment Research Advisors Inc. boosted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 43.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,193 shares of the company's stock after purchasing an additional 24,075 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Robinhood Markets were worth $3,296,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Whipplewood Advisors LLC boosted its holdings in shares of Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares during the last quarter. CoreCap Advisors LLC raised its position in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after acquiring an additional 550 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after acquiring an additional 750 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after acquiring an additional 498 shares during the period. Finally, Colonial Trust Co SC bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $34,000. 93.27% of the stock is currently owned by institutional investors.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 92,257 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total transaction of $7,838,154.72. Following the transaction, the insider now owns 136,364 shares in the company, valued at $11,585,485.44. This trade represents a 40.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,472,691 shares of company stock worth $139,178,726 in the last three months. Insiders own 19.95% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on HOOD. Mizuho boosted their price target on Robinhood Markets from $65.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Citigroup lowered their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $71.00 price target on shares of Robinhood Markets in a research report on Tuesday, May 27th. Finally, Morgan Stanley raised their price objective on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $62.29.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $83.03 on Monday. The company has a market cap of $73.52 billion, a price-to-earnings ratio of 47.18, a PEG ratio of 4.90 and a beta of 2.25. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $85.55. The stock's 50 day simple moving average is $63.85 and its two-hundred day simple moving average is $51.66.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The business had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the prior year, the firm posted $0.18 EPS. The company's revenue for the quarter was up 50.0% on a year-over-year basis. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current 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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