Janney Montgomery Scott LLC Boosts Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Janney Montgomery Scott LLC increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 203.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,422 shares of the company's stock after buying an additional 50,597 shares during the period. Janney Montgomery Scott LLC's holdings in Robinhood Markets were worth $3,139,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOOD. Whipplewood Advisors LLC lifted its position in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in Robinhood Markets by 191.6% during 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 in the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after purchasing an additional 750 shares during the period. Colonial Trust Co SC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $34,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after purchasing an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HOOD shares. Cantor Fitzgerald decreased their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley increased their target price on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. Barclays decreased their target price on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. KeyCorp reduced their price objective on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Needham & Company LLC restated a "buy" rating and issued a $71.00 price objective on shares of Robinhood Markets in a report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus price target of $58.00.

Robinhood Markets Stock Up 0.9%

Shares of Robinhood Markets stock traded up $0.74 during mid-day trading on Wednesday, hitting $82.75. The stock had a trading volume of 38,739,824 shares, compared to its average volume of 27,833,908. The firm has a market cap of $73.27 billion, a P/E ratio of 47.02, a price-to-earnings-growth ratio of 4.50 and a beta of 2.25. The firm has a 50-day moving average of $61.30 and a two-hundred day moving average of $50.63. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $85.72.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its 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 business 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%. Robinhood Markets's revenue was up 50.0% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 223,072 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $41.24, for a total transaction of $9,199,489.28. Following the completion of the transaction, the director now directly owns 7,863 shares of the company's stock, valued at approximately $324,270.12. The trade was a 96.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,380,434 shares of company stock worth $131,340,572 over the last three months. Insiders own 19.95% of the company's stock.

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.