Colonial River Investments LLC Invests $296,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Colonial River Investments LLC acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,101 shares of the company's stock, valued at approximately $296,000.

Other large investors also recently added to or reduced their stakes in the company. Kessler Investment Group LLC bought a new position in Robinhood Markets in the 1st quarter worth about $5,091,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Robinhood Markets by 21.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,676 shares of the company's stock worth $112,000 after purchasing an additional 478 shares in the last quarter. Diversified Trust Co increased its position in shares of Robinhood Markets by 394.2% in the first quarter. Diversified Trust Co now owns 43,008 shares of the company's stock worth $1,790,000 after purchasing an additional 34,305 shares during the last quarter. Alta Wealth Advisors LLC purchased a new stake in Robinhood Markets in the first quarter valued at approximately $257,000. Finally, SFG Wealth Management LLC. bought a new stake in Robinhood Markets during the first quarter valued at approximately $212,000. Institutional investors own 93.27% of the company's stock.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business's 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the transaction, the chief technology officer now owns 5,853 shares of the company's stock, valued at $201,987.03. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,472,691 shares of company stock worth $139,178,726. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Stock Down 1.8%

Shares of Robinhood Markets stock opened at $83.03 on Friday. The company's fifty day simple moving average is $63.85 and its two-hundred day simple moving average is $51.57. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $85.55. The firm has a market cap of $73.52 billion, a PE ratio of 47.18, a price-to-earnings-growth ratio of 4.90 and a beta of 2.25.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on HOOD shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Citigroup reduced their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Needham & Company LLC reiterated a "buy" rating and issued a $71.00 price objective on shares of Robinhood Markets in a report on Tuesday, May 27th. Finally, Morgan Stanley increased their price objective on 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 given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $62.29.

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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