Elevation Point Wealth Partners LLC Has $755,000 Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Elevation Point Wealth Partners LLC lifted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 184.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,149 shares of the company's stock after acquiring an additional 11,769 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Robinhood Markets were worth $755,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Whipplewood Advisors LLC grew its holdings in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares in the last quarter. CoreCap Advisors LLC grew its stake in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in Robinhood Markets by 750.0% during 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. MassMutual Private Wealth & Trust FSB raised its stake in Robinhood Markets by 139.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after purchasing an additional 498 shares in the last quarter. Finally, Colonial Trust Co SC bought a new stake in Robinhood Markets in the 4th quarter valued at about $34,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of analyst reports. Mizuho lifted their price target on shares of Robinhood Markets from $65.00 to $80.00 and gave the company an "outperform" rating in a research report on Tuesday. JMP Securities reaffirmed a "market outperform" rating and issued a $70.00 price objective on shares of Robinhood Markets in a report on Thursday, May 1st. Citigroup reduced their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, Barclays reduced their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $58.00.

Robinhood Markets Price Performance

NASDAQ HOOD traded down $1.80 during mid-day trading on Tuesday, reaching $74.95. 26,551,033 shares of the stock were exchanged, compared to its average volume of 27,387,072. The stock has a market cap of $66.37 billion, a P/E ratio of 59.50, a P/E/G ratio of 4.53 and a beta of 2.25. The stock has a 50 day simple moving average of $57.07 and a 200-day simple moving average of $49.08. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $77.80.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $917.12 million. During the same period last year, the business posted $0.18 earnings per share. The business's revenue was up 50.0% on a year-over-year basis. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $43.36, for a total value of $253,786.08. Following the completion of the sale, the chief technology officer now directly owns 11,706 shares in the company, valued at $507,572.16. This trade represents a 33.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 223,528 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $43.21, for a total value of $9,658,644.88. Following the completion of the transaction, the director now owns 5,042 shares in the company, valued at approximately $217,864.82. The trade was a 97.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,650,974 shares of company stock valued at $142,977,123 in the last quarter. 19.95% of the stock is currently owned by company insiders.

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.