Clare Market Investments LLC Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Clare Market Investments LLC acquired a new stake in 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 & Exchange Commission. The firm acquired 22,850 shares of the company's stock, valued at approximately $951,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of HOOD. Teamwork Financial Advisors LLC bought a new stake in Robinhood Markets during the 1st quarter valued at $914,000. Clarus Wealth Advisors acquired a new position in shares of Robinhood Markets during the first quarter valued at about $915,000. Whipplewood Advisors LLC grew its holdings in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares during the last quarter. Merit Financial Group LLC increased its position in shares of Robinhood Markets by 31.7% during the first quarter. Merit Financial Group LLC now owns 23,625 shares of the company's stock worth $983,000 after acquiring an additional 5,686 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its holdings in shares of Robinhood Markets by 88.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 14,345 shares of the company's stock worth $597,000 after acquiring an additional 6,745 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald decreased their price target on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Barclays reduced their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Morgan Stanley raised their price target 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. Citigroup reduced their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $55.41.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 24,311 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $54.93, for a total value of $1,335,403.23. Following the transaction, the insider now directly owns 299,349 shares in the company, valued at approximately $16,443,240.57. This represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $71.64, for a total transaction of $1,791,000.00. Following the completion of the sale, the insider now directly owns 841,887 shares in the company, valued at $60,312,784.68. This represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,226,771 shares of company stock valued at $111,467,774. Company insiders own 14.47% of the company's stock.

Robinhood Markets Stock Up 3.3%

HOOD traded up $2.37 during trading hours on Friday, hitting $74.88. The stock had a trading volume of 61,705,294 shares, compared to its average volume of 26,989,702. The stock has a market cap of $66.30 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. The company's fifty day simple moving average is $51.92 and its 200 day simple moving average is $47.11. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $80.24.

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 net margin of 47.81% and a return on equity of 13.53%. The company had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The company's quarterly revenue was up 50.0% on a year-over-year basis. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Robinhood Markets 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.