FDx Advisors Inc. Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

FDx Advisors Inc. acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,244 shares of the company's stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Whipplewood Advisors LLC grew its stake in shares of Robinhood Markets by 564.4% during the first 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 during the first quarter valued at about $30,000. CoreCap Advisors LLC grew its stake in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after buying an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC bought a new stake in shares of Robinhood Markets in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Down 0.4%

Robinhood Markets stock traded down $0.36 during mid-day trading on Friday, hitting $98.34. The stock had a trading volume of 60,149,672 shares, compared to its average volume of 30,346,786. The firm has a market capitalization of $87.08 billion, a P/E ratio of 55.88, a P/E/G ratio of 5.30 and a beta of 2.36. The firm's 50 day moving average is $73.48 and its 200 day moving average is $55.42. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $101.50.

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

Insiders Place Their Bets

In other Robinhood Markets news, Director Christopher D. Payne bought 26,500 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were purchased at an average cost of $74.19 per share, for a total transaction of $1,966,035.00. Following the transaction, the director owned 26,500 shares of the company's stock, valued at $1,966,035. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $93.51, for a total transaction of $548,342.64. Following the completion of the sale, the chief technology officer directly owned 8,908 shares in the company, valued at $832,987.08. This trade represents a 39.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,472,702 shares of company stock worth $179,396,832. 14.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Barclays lifted their target price on shares of Robinhood Markets from $57.00 to $102.00 and gave the company an "overweight" rating in a report on Thursday. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Finally, Compass Point boosted their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. One investment 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.06.

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.