Dakota Wealth Management Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Dakota Wealth Management bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,033 shares of the company's stock, valued at approximately $501,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOOD. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Robinhood Markets during the first quarter worth $307,000. SBI Securities Co. Ltd. increased its position in shares of Robinhood Markets by 29.5% during the first quarter. SBI Securities Co. Ltd. now owns 47,746 shares of the company's stock worth $1,987,000 after acquiring an additional 10,864 shares during the period. Signaturefd LLC increased its position in shares of Robinhood Markets by 1,777.4% during the first quarter. Signaturefd LLC now owns 114,277 shares of the company's stock worth $4,756,000 after acquiring an additional 108,190 shares during the period. Bleakley Financial Group LLC increased its position in shares of Robinhood Markets by 43.7% during the first quarter. Bleakley Financial Group LLC now owns 10,681 shares of the company's stock worth $445,000 after acquiring an additional 3,248 shares during the period. Finally, Left Brain Wealth Management LLC increased its position in shares of Robinhood Markets by 50.7% during the first quarter. Left Brain Wealth Management LLC now owns 16,425 shares of the company's stock worth $684,000 after acquiring an additional 5,525 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Up 4.1%

Shares of HOOD traded up $4.29 during mid-day trading on Friday, hitting $109.74. 73,491,307 shares of the company's stock were exchanged, compared to its average volume of 30,982,284. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $113.37. The firm has a market capitalization of $97.17 billion, a P/E ratio of 62.35, a P/E/G ratio of 5.26 and a beta of 2.36. The business's 50 day moving average is $77.63 and its two-hundred day moving average is $57.05.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its 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 return on equity of 15.42% and a net margin of 48.77%. The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same quarter last year, the company posted $0.18 EPS. Robinhood Markets's quarterly revenue was up 50.0% on a year-over-year basis. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on HOOD. Cantor Fitzgerald upped their price objective on Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Piper Sandler boosted their target price on shares of Robinhood Markets from $70.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday. JMP Securities boosted their target price on shares of Robinhood Markets from $70.00 to $125.00 and gave the stock a "market outperform" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Finally, Mizuho boosted their target price on shares of Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and an average price target of $85.29.

Insider Buying and Selling at Robinhood Markets

In other news, Director Christopher D. Payne acquired 26,500 shares of Robinhood Markets stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average price of $74.19 per share, for a total transaction of $1,966,035.00. Following the completion of the transaction, the director directly owned 26,500 shares in the company, valued at approximately $1,966,035. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 114,175 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $101.65, for a total transaction of $11,605,888.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,364,145 shares of company stock valued at $181,837,741. Corporate insiders own 14.47% of the company's stock.

Robinhood Markets Company 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.