Cresset Asset Management LLC Acquires 5,903 Shares of Robinhood Markets, Inc. $HOOD

Key Points

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Cresset Asset Management LLC raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 92,030 shares of the company's stock after purchasing an additional 5,903 shares during the quarter. Cresset Asset Management LLC's holdings in Robinhood Markets were worth $3,830,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Townsquare Capital LLC bought a new position in shares of Robinhood Markets in the fourth quarter valued at about $377,000. GeoWealth Management LLC acquired a new stake in Robinhood Markets in the 4th quarter valued at about $53,000. First Trust Advisors LP lifted its position in shares of Robinhood Markets by 35.9% during the fourth quarter. First Trust Advisors LP now owns 964,836 shares of the company's stock worth $35,950,000 after purchasing an additional 254,817 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Robinhood Markets by 1.5% during 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. Finally, MML Investors Services LLC grew its stake in shares of Robinhood Markets by 4.3% during the fourth quarter. MML Investors Services LLC now owns 54,052 shares of the company's stock valued at $2,014,000 after purchasing an additional 2,213 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of research reports. The Goldman Sachs Group lifted their price objective on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Redburn Atlantic reiterated a "sell" rating and set a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Barclays raised their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Citigroup upped their price objective on Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective 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. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the sale, the insider owned 591,887 shares in the company, valued at $59,170,943.39. The trade was a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,644,685 shares of company stock worth $448,881,884 in the last quarter. Insiders own 19.95% of the company's stock.

Robinhood Markets Stock Down 6.5%

Shares of HOOD stock traded down $7.52 during trading on Tuesday, reaching $107.50. 49,164,673 shares of the company's stock were exchanged, compared to its average volume of 40,082,160. Robinhood Markets, Inc. has a twelve month low of $18.71 and a twelve month high of $117.70. The firm's fifty day moving average price is $96.89 and its 200-day moving average price is $67.07. The stock has a market capitalization of $95.53 billion, a PE ratio of 54.57, a PEG ratio of 4.39 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same period last year, the business posted $0.21 earnings per share. The business's revenue for the quarter was up 45.0% compared to the same quarter last year. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal 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.