Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Purchased by Harbour Investments Inc.

Key Points

• Harbour Investments Inc. increased its stake in Robinhood Markets by 731.7% in the first quarter, owning 22,257 shares valued at $926,000.
• Insider trading shows significant sales, with Director Baiju Bhatt selling 418,338 shares and CEO Vladimir Tenev selling 750,000 shares, collectively totaling over $100 million in sales.
• Analysts offered varying ratings and price targets for Robinhood, with Morgan Stanley raising its target from $43 to $110 and the consensus rating giving a "Moderate Buy."

Harbour Investments Inc. raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 731.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,257 shares of the company's stock after buying an additional 19,581 shares during the period. Harbour Investments Inc.'s holdings in Robinhood Markets were worth $926,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HOOD. Whipplewood Advisors LLC raised its holdings 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 last quarter. Wayfinding Financial LLC purchased a new stake in shares of Robinhood Markets in the first quarter valued at approximately $30,000. CoreCap Advisors LLC increased its holdings 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 purchasing an additional 550 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Robinhood Markets by 139.9% in 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. Finally, Colonial Trust Co SC purchased a new position in Robinhood Markets during the fourth quarter worth approximately $34,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JMP Securities upped their target price on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a report on Thursday. Barclays boosted their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday. Redburn Atlantic restated a "sell" rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Cantor Fitzgerald lifted their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, KeyCorp increased their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. One 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 company. According to MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $96.29.

Insider Buying and Selling at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $104.73, for a total value of $614,136.72. Following the completion of the transaction, the chief technology officer owned 3,044 shares in the company, valued at approximately $318,798.12. The trade was a 65.83% 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, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $93.88, for a total transaction of $2,347,000.00. Following the sale, the insider directly owned 816,887 shares in the company, valued at approximately $76,689,351.56. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,026,690 shares of company stock valued at $257,160,102. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets Stock Performance

Shares of HOOD traded down $3.15 during midday trading on Friday, hitting $99.90. 76,566,177 shares of the stock were exchanged, compared to its average volume of 47,307,080. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $113.44. The stock has a fifty day simple moving average of $86.92 and a 200 day simple moving average of $62.11. The firm has a market cap of $88.46 billion, a P/E ratio of 50.71, a P/E/G ratio of 4.59 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The company had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. Robinhood Markets's revenue for the quarter was up 45.0% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Robinhood Markets 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.