Emerald Advisers LLC Buys 6,990 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Emerald Advisers LLC boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 180.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,857 shares of the company's stock after acquiring an additional 6,990 shares during the quarter. Emerald Advisers LLC's holdings in Robinhood Markets were worth $452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HOOD. Whipplewood Advisors LLC increased its stake 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 during the last quarter. Wayfinding Financial LLC bought a new position in shares of Robinhood Markets in the 1st quarter valued at about $30,000. CoreCap Advisors LLC increased its position 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 during the last quarter. Creative Financial Designs Inc. ADV raised its holdings 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 in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after purchasing an additional 498 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $98.34 on Monday. The firm has a market cap of $87.08 billion, a P/E ratio of 55.88, a P/E/G ratio of 5.25 and a beta of 2.36. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $101.50. The firm has a 50-day simple moving average of $73.48 and a two-hundred day simple moving average of $55.53.

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 business had revenue of $927.00 million for 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 company's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HOOD shares. KeyCorp boosted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. JMP Securities reissued a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research report on Thursday, May 1st. Redburn Atlantic restated a "sell" rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Mizuho lifted their target price on Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus price target of $76.06.

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the sale, the insider owned 228,621 shares in the company, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the sale, the director owned 7,863 shares in the company, valued at $506,848.98. This represents a 98.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,472,702 shares of company stock worth $179,396,832. 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.

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