Global Wealth Management Investment Advisory Inc. Acquires New Shares in Robinhood Markets, Inc. (NASDAQ:HOOD)

Global Wealth Management Investment Advisory Inc. purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,831 shares of the company's stock, valued at approximately $284,000.

Other institutional investors have also made changes to their positions in the company. FMR LLC lifted its position in shares of Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC increased its stake in Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after acquiring an additional 273,860 shares during the period. Geode Capital Management LLC increased its stake in Robinhood Markets by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after acquiring an additional 555,299 shares during the period. Renaissance Technologies LLC increased its stake in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after acquiring an additional 3,091,514 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Robinhood Markets by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after acquiring an additional 52,700 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Price Performance

Shares of HOOD traded down $3.85 on Friday, hitting $94.13. The company's stock had a trading volume of 56,373,803 shares, compared to its average volume of 29,450,983. The company has a 50 day moving average price of $68.81 and a 200 day moving average price of $53.34. The company has a market capitalization of $83.35 billion, a PE ratio of 53.48, a PEG ratio of 4.80 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 $100.88.

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

Insider Activity

In other news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total value of $26,966,067.48. Following the transaction, the director owned 7,863 shares of the company's stock, valued at $506,848.98. This represents a 98.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the sale, the insider owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. This represents a 31.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,447,691 shares of company stock valued at $176,703,476 in the last 90 days. 14.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HOOD shares. JMP Securities restated a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research note on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and set a $71.00 price target on shares of Robinhood Markets in a research note on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Compass Point boosted their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $69.00.

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.