Catalyst Capital Advisors LLC Takes $568,000 Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Catalyst Capital Advisors LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,650 shares of the company's stock, valued at approximately $568,000.

Several other large investors have also made changes to their positions in HOOD. MetLife Investment Management LLC raised its position in Robinhood Markets by 1.5% in the fourth 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 during the period. Dorsey & Whitney Trust CO LLC raised its position in Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after purchasing an additional 233 shares during the period. Farther Finance Advisors LLC raised its position 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 purchasing an additional 265 shares during the period. Blue Trust Inc. raised its position in Robinhood Markets by 28.6% in the first quarter. Blue Trust Inc. now owns 1,998 shares of the company's stock valued at $83,000 after purchasing an additional 444 shares during the period. Finally, City State Bank raised its position in Robinhood Markets by 94.0% in the first quarter. City State Bank now owns 970 shares of the company's stock valued at $40,000 after purchasing an additional 470 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several recent analyst reports. Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. Citigroup raised their target price on Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday. JMP Securities reiterated a "market outperform" rating and issued a $70.00 price target on shares of Robinhood Markets in a research note on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and issued a $71.00 price target on shares of Robinhood Markets in a research note on Tuesday, May 27th. Finally, Cantor Fitzgerald lifted their price target on Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $72.71.

Robinhood Markets Stock Down 2.3%

HOOD stock traded down $2.19 during midday trading on Tuesday, reaching $91.27. The company had a trading volume of 59,630,724 shares, compared to its average volume of 29,808,157. The stock has a 50 day moving average price of $70.54 and a 200 day moving average price of $54.21. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $100.88. The firm has a market capitalization of $80.82 billion, a PE ratio of 51.86, a P/E/G ratio of 4.75 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its 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 net margin of 48.77% and a return on equity of 15.42%. The company had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business's revenue was up 50.0% on a year-over-year basis. Research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the sale, the director owned 7,863 shares of the company's stock, valued at approximately $506,848.98. The trade was a 98.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the sale, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. This trade represents a 31.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,466,838 shares of company stock worth $178,848,489 over the last ninety days. Company insiders own 19.95% of the company's stock.

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.