Concurrent Investment Advisors LLC Grows Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Concurrent Investment Advisors LLC grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 181.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,162 shares of the company's stock after acquiring an additional 13,002 shares during the period. Concurrent Investment Advisors LLC's holdings in Robinhood Markets were worth $839,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC raised its position in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after acquiring an additional 508 shares during the period. Wayfinding Financial LLC bought a new position in Robinhood Markets in the first quarter worth approximately $30,000. CoreCap Advisors LLC raised its position in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after acquiring an additional 550 shares during the period. Creative Financial Designs Inc. ADV raised its position in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after acquiring an additional 750 shares during the period. Finally, Colonial Trust Co SC bought a new position in Robinhood Markets in the fourth quarter worth approximately $34,000. 93.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares of the company's stock, valued at $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. Insiders sold 2,472,702 shares of company stock valued at $179,396,832 in the last three months. Corporate insiders own 14.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in 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 research report on Monday, June 9th. Morgan Stanley raised their price objective 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. Cantor Fitzgerald raised their price objective on shares of Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Needham & Company LLC restated a "buy" rating and set a $71.00 price objective on shares of Robinhood Markets in a research report on Tuesday, May 27th. Finally, Redburn Atlantic restated a "sell" rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. One equities 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 stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus target price of $76.06.

Robinhood Markets Stock Down 0.4%

NASDAQ HOOD traded down $0.36 on Friday, reaching $98.34. The company had a trading volume of 60,149,672 shares, compared to its average volume of 30,346,786. The stock has a market capitalization of $87.08 billion, a PE ratio of 55.88, a price-to-earnings-growth ratio of 5.30 and a beta of 2.36. The firm's 50 day moving average price is $73.48 and its 200 day moving average price is $55.42. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $101.50.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business's revenue was up 50.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, research 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.