Kestra Advisory Services LLC Boosts Stock Position in Robinhood Markets, Inc. $HOOD

Key Points

• Kestra Advisory Services LLC increased its stake in Robinhood Markets by 213.6%, owning 58,421 shares valued at approximately $2.43 million as of the first quarter filing with the SEC.
• Research analysts have issued varying ratings and raised price targets for Robinhood Markets, with Mizuho and Needham both setting new targets of $120.00, while Cantor Fitzgerald revised theirs to $118.00.
• Insider selling activity included CEO Vladimir Tenev selling 385,485 shares for about $39.3 million, highlighting market movements among corporate executives.

Kestra Advisory Services LLC raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 213.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,421 shares of the company's stock after purchasing an additional 39,792 shares during the period. Kestra Advisory Services LLC's holdings in Robinhood Markets were worth $2,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC boosted its holdings in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after acquiring an additional 508 shares in the last quarter. Hemington Wealth Management boosted its holdings in Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Robinhood Markets in the first quarter worth about $30,000. CoreCap Advisors LLC boosted its holdings in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after acquiring an additional 550 shares in the last quarter. Finally, Pandora Wealth Inc. acquired a new stake in Robinhood Markets in the first quarter worth about $33,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HOOD shares. Needham & Company LLC raised their price target on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. JMP Securities lifted their target price on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Cantor Fitzgerald lifted their target price on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Redburn Atlantic reaffirmed a "sell" rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and an average price target of $100.31.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 1,568,421 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares of the company's stock, valued at $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,818,493 shares of company stock valued at $570,818,204 in the last three months. 14.47% of the stock is currently owned by company insiders.

Robinhood Markets Price Performance

NASDAQ:HOOD traded up $0.34 during trading hours on Friday, reaching $104.03. The company had a trading volume of 22,092,111 shares, compared to its average volume of 40,065,512. Robinhood Markets, Inc. has a 1-year low of $18.71 and a 1-year high of $117.70. The firm has a market cap of $92.45 billion, a PE ratio of 52.81, a price-to-earnings-growth ratio of 3.80 and a beta of 2.36. The business's 50 day moving average price is $101.69 and its 200-day moving average price is $69.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.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 company posted $0.21 earnings per share. Robinhood Markets's revenue for the quarter was up 45.0% on a year-over-year basis. On average, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal 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.