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

Catalyst Capital Advisors LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,650 shares of the company's stock, valued at approximately $568,000.

A number of other hedge funds have also made changes to their positions in HOOD. MetLife Investment Management LLC increased its holdings in shares of 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 last quarter. Dorsey & Whitney Trust CO LLC grew 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 worth $368,000 after acquiring an additional 233 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Robinhood Markets by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after buying an additional 265 shares during the period. Blue Trust Inc. boosted its position in shares of Robinhood Markets by 28.6% during the first quarter. Blue Trust Inc. now owns 1,998 shares of the company's stock worth $83,000 after buying an additional 444 shares during the period. Finally, City State Bank boosted its position in shares of Robinhood Markets by 94.0% during the first quarter. City State Bank now owns 970 shares of the company's stock worth $40,000 after buying an additional 470 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HOOD shares. JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Compass Point raised their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Citigroup dropped their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Robinhood Markets Trading Down 3.9%

Shares of NASDAQ:HOOD traded down $3.85 during trading on Friday, hitting $94.13. 56,373,803 shares of the stock were exchanged, compared to its average volume of 29,531,505. The company has a fifty day moving average price of $68.81 and a two-hundred day moving average price of $53.45. The company has a market cap of $83.35 billion, a PE ratio of 53.48, a P/E/G ratio of 4.80 and a beta of 2.36. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $100.88.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) 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 company had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The company's revenue for the quarter was up 50.0% on a year-over-year basis. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total value of $26,966,067.48. Following the completion of the transaction, the director directly owned 7,863 shares in the company, valued at approximately $506,848.98. The trade was a 98.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the sale, the insider owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,447,691 shares of company stock worth $176,703,476. Insiders own 14.47% of the company's stock.

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.