Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Acquired by Choreo LLC

Choreo LLC raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 40.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,618 shares of the company's stock after purchasing an additional 3,065 shares during the period. Choreo LLC's holdings in Robinhood Markets were worth $442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HOOD. Whipplewood Advisors LLC increased its holdings in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets in the 1st quarter worth $30,000. CoreCap Advisors LLC boosted its position in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Robinhood Markets by 139.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after purchasing an additional 498 shares in the last quarter. Finally, Colonial Trust Co SC acquired a new stake in shares of Robinhood Markets in the 4th quarter worth $34,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on HOOD shares. Deutsche Bank Aktiengesellschaft lifted their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Morgan Stanley lifted their price target on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. KeyCorp lifted their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. JMP Securities boosted their price objective on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a report on Thursday. Finally, Redburn Atlantic reissued a "sell" rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.29.

Robinhood Markets Trading Up 0.4%

NASDAQ:HOOD traded up $0.41 during trading hours on Friday, hitting $103.46. 44,794,397 shares of the stock were exchanged, compared to its average volume of 41,685,043. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $113.44. The company has a market cap of $91.61 billion, a P/E ratio of 52.44, a P/E/G ratio of 5.40 and a beta of 2.36. The firm's fifty day moving average price is $86.18 and its 200 day moving average price is $61.49.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.69% and a net margin of 50.13%. The firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. During the same period in the prior year, the firm posted $0.21 earnings per share. The firm's quarterly revenue was up 45.0% on a year-over-year basis. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $74.29, for a total transaction of $31,078,330.02. Following the sale, the director owned 7,863 shares of the company's stock, valued at approximately $584,142.27. This represents a 98.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 directly owned 228,621 shares in the company, valued at $16,035,476.94. This represents a 31.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,026,690 shares of company stock worth $257,160,102 over the last ninety days. Corporate 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.