HighTower Advisors LLC Boosts Stock Position in Robinhood Markets, Inc. $HOOD

HighTower Advisors LLC grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 6.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,264 shares of the company's stock after buying an additional 3,032 shares during the quarter. HighTower Advisors LLC's holdings in Robinhood Markets were worth $2,092,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. AGF Management Ltd. increased its position in shares of Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after buying an additional 4,255,862 shares in the last quarter. Meridian Wealth Management LLC increased its position in shares of Robinhood Markets by 31.7% in the first quarter. Meridian Wealth Management LLC now owns 218,024 shares of the company's stock valued at $9,074,000 after buying an additional 52,494 shares in the last quarter. Independent Advisor Alliance increased its position in shares of Robinhood Markets by 36.4% in the first quarter. Independent Advisor Alliance now owns 9,812 shares of the company's stock valued at $408,000 after buying an additional 2,619 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Robinhood Markets in the first quarter valued at approximately $97,642,000. Finally, Virtu Financial LLC purchased a new stake in shares of Robinhood Markets in the first quarter valued at approximately $3,475,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the transaction, the insider owned 591,887 shares of the company's stock, valued at approximately $59,170,943.39. The trade was a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the transaction, the insider directly owned 228,621 shares in the company, 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. Over the last three months, insiders sold 4,644,685 shares of company stock worth $448,881,884. 14.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler boosted their price objective on Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Needham & Company LLC boosted their price target on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. JMP Securities boosted their price target on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods boosted their price target on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald boosted their price target on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.31.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $109.32 on Friday. The stock's fifty day moving average is $98.88 and its two-hundred day moving average is $68.20. The firm has a market capitalization of $97.15 billion, a P/E ratio of 55.49, a price-to-earnings-growth ratio of 4.01 and a beta of 2.36. Robinhood Markets, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. The company had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.

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