Independent Advisor Alliance Boosts Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Independent Advisor Alliance lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 36.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,812 shares of the company's stock after purchasing an additional 2,619 shares during the period. Independent Advisor Alliance's holdings in Robinhood Markets were worth $408,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC increased its stake in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management increased its stake in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $30,000. CoreCap Advisors LLC increased its stake in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Finally, Pandora Wealth Inc. purchased a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $110.71 on Friday. Robinhood Markets, Inc. has a one year low of $18.71 and a one year high of $117.70. The company has a market cap of $98.38 billion, a price-to-earnings ratio of 56.20, a PEG ratio of 4.14 and a beta of 2.36. The firm has a fifty day moving average price of $94.57 and a two-hundred day moving average price of $65.70.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HOOD shares. Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Cantor Fitzgerald lifted their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Citigroup lifted their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Redburn Atlantic reiterated a "sell" rating and issued a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Finally, Barclays lifted their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average price target of $100.31.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 385,485 shares of Robinhood Markets stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total transaction of $39,280,921.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 40,131 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $104.71, for a total transaction of $4,202,117.01. Following the completion of the sale, the insider directly owned 120,408 shares of the company's stock, valued at $12,607,921.68. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,644,685 shares of company stock worth $430,085,957 in the last three months. 14.47% of the stock is owned by insiders.

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.

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