Grant GrossMendelsohn LLC Boosts Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Grant GrossMendelsohn LLC boosted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 183.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,403 shares of the company's stock after buying an additional 19,665 shares during the quarter. Grant GrossMendelsohn LLC's holdings in Robinhood Markets were worth $1,265,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Whipplewood Advisors LLC grew 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 acquiring an additional 508 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets during the 1st quarter worth $30,000. CoreCap Advisors LLC raised its holdings in Robinhood Markets by 191.6% in the 4th 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 period. Creative Financial Designs Inc. ADV raised its holdings in Robinhood Markets by 750.0% in the 4th 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 period. Finally, Colonial Trust Co SC purchased a new stake in Robinhood Markets in the 4th quarter valued at about $34,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on HOOD. Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Barclays upped their price target on Robinhood Markets from $57.00 to $102.00 and gave the company an "overweight" rating in a report on Thursday. Needham & Company LLC reaffirmed a "buy" rating and issued a $71.00 price target on shares of Robinhood Markets in a report on Tuesday, May 27th. Mizuho boosted their price objective on Robinhood Markets from $80.00 to $99.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Finally, KeyCorp upped their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.06.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the completion of the transaction, the director owned 7,863 shares of the company's stock, valued at $506,848.98. The trade was a 98.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. Insiders sold 2,472,702 shares of company stock valued at $179,396,832 in the last 90 days. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Stock Performance

Robinhood Markets stock traded down $0.36 during midday trading on Friday, reaching $98.34. The company's stock had a trading volume of 60,149,672 shares, compared to its average volume of 30,266,921. 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 market capitalization of $87.08 billion, a PE ratio of 55.88, a P/E/G ratio of 5.32 and a beta of 2.36. The stock's 50 day simple moving average is $73.48 and its 200 day simple moving average is $55.32.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly 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). The firm had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The company's quarterly revenue was up 50.0% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. Equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

About Robinhood Markets

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.