Emerald Mutual Fund Advisers Trust Purchases New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Emerald Mutual Fund Advisers Trust acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,419 shares of the company's stock, valued at approximately $226,000.

Several other large investors have also made changes to their positions in HOOD. Jones Financial Companies Lllp lifted its position in shares of Robinhood Markets by 1,631.5% in the fourth quarter. Jones Financial Companies Lllp now owns 3,463 shares of the company's stock valued at $129,000 after acquiring an additional 3,263 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Robinhood Markets by 87.6% in the fourth quarter. Victory Capital Management Inc. now owns 220,160 shares of the company's stock worth $8,203,000 after purchasing an additional 102,777 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Robinhood Markets in the fourth quarter worth about $2,367,000. Independent Advisor Alliance bought a new stake in shares of Robinhood Markets in the fourth quarter worth about $268,000. Finally, HighTower Advisors LLC increased its holdings in shares of Robinhood Markets by 57.6% in the fourth quarter. HighTower Advisors LLC now owns 47,232 shares of the company's stock worth $1,760,000 after purchasing an additional 17,264 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD traded down $0.36 during trading hours on Friday, hitting $98.34. 60,149,672 shares of the company's stock traded hands, compared to its average volume of 30,346,786. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $101.50. The business has a fifty day moving average price of $73.48 and a 200-day moving average price of $55.42. The firm has a market capitalization of $87.08 billion, a P/E ratio of 55.88, a price-to-earnings-growth ratio of 5.30 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. During the same quarter last year, the firm earned $0.18 EPS. The firm's quarterly revenue was up 50.0% on a year-over-year basis. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HOOD. The Goldman Sachs Group lifted their target price on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $71.00 target price on shares of Robinhood Markets in a report on Tuesday, May 27th. Mizuho lifted their target price on Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 27th. Finally, Barclays boosted their price objective on Robinhood Markets from $57.00 to $102.00 and gave the stock an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $76.06.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction that occurred 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 transaction, the insider owned 228,621 shares of the company's stock, valued at $16,035,476.94. This trade represents a 31.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,472,702 shares of company stock worth $179,396,832 over the last 90 days. Company 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.