8,586 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Purchased by Kestra Private Wealth Services LLC

Key Points

• Kestra Private Wealth Services LLC acquired a new stake in Robinhood Markets, buying 8,586 shares valued at approximately $357,000 in the first quarter.
• Institutional investors now own 93.27% of Robinhood's stock, with major players like FMR LLC increasing their holdings significantly by nearly 185% in the last quarter.
• Robinhood's stock recently received several price target upgrades from analysts, with consensus estimates raising the target to around $85.29 and a majority rating it as a "Moderate Buy."

Kestra Private Wealth Services LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 8,586 shares of the company's stock, valued at approximately $357,000.

A number of other hedge funds also recently added to or reduced their stakes in HOOD. FMR LLC lifted its holdings in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after buying an additional 26,107,934 shares during the period. Norges Bank acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $329,598,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after buying an additional 3,994,745 shares during the period. Wealthquest Corp acquired a new stake in shares of Robinhood Markets in the 1st quarter valued at approximately $156,193,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Robinhood Markets by 231.9% in the 4th quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock valued at $195,907,000 after buying an additional 3,673,861 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HOOD shares. Needham & Company LLC raised their price objective on Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday. Citigroup raised their price objective on Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods raised their price objective on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research note on Thursday. Compass Point raised their price objective on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, Morgan Stanley raised their price objective on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average price target of $94.06.

Insiders Place Their Bets

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the transaction, the insider owned 228,621 shares in the company, valued at $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,026,690 shares of company stock worth $257,160,102 over the last quarter. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets Stock Performance

Robinhood Markets stock traded up $0.53 during trading on Thursday, hitting $106.63. The company's stock had a trading volume of 29,626,900 shares, compared to its average volume of 41,474,727. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $113.44. The stock has a market capitalization of $94.42 billion, a price-to-earnings ratio of 60.59, a P/E/G ratio of 5.26 and a beta of 2.36. The stock's fifty day moving average is $85.42 and its 200 day moving average is $61.05.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. During the same quarter last year, the firm earned $0.21 earnings per share. The firm's revenue for the quarter was up 45.0% compared to the same quarter last year. On average, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS 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.