Kingsview Wealth Management LLC Acquires 18,657 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Kingsview Wealth Management LLC grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 116.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,622 shares of the company's stock after acquiring an additional 18,657 shares during the period. Kingsview Wealth Management LLC's holdings in Robinhood Markets were worth $1,441,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HOOD. HighTower Advisors LLC lifted its position in shares of Robinhood Markets by 57.6% during the 4th quarter. HighTower Advisors LLC now owns 47,232 shares of the company's stock valued at $1,760,000 after acquiring an additional 17,264 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Robinhood Markets by 26.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 109,033 shares of the company's stock worth $4,063,000 after purchasing an additional 22,508 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Robinhood Markets by 9.7% during the 4th quarter. Natixis Advisors LLC now owns 37,261 shares of the company's stock worth $1,388,000 after purchasing an additional 3,281 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Robinhood Markets during the 4th quarter worth approximately $314,000. Finally, Harbour Investments Inc. increased its stake in shares of Robinhood Markets by 81.9% during the 4th quarter. Harbour Investments Inc. now owns 2,676 shares of the company's stock worth $100,000 after purchasing an additional 1,205 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Trading Down 2.4%

HOOD traded down $2.49 on Tuesday, hitting $101.85. 44,408,407 shares of the company's stock were exchanged, compared to its average volume of 31,183,687. The firm has a market cap of $90.18 billion, a PE ratio of 57.87, a P/E/G ratio of 5.60 and a beta of 2.36. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $113.44. The stock has a fifty day moving average of $78.73 and a two-hundred day moving average of $57.81.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same quarter last year, the company posted $0.18 EPS. Robinhood Markets's revenue for the quarter was up 50.0% on a year-over-year basis. On average, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analysts Set New Price Targets

HOOD has been the subject of a number of research analyst reports. Cantor Fitzgerald upped their price objective on shares of Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Mizuho boosted their price objective on shares of Robinhood Markets from $80.00 to $99.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Piper Sandler increased their target price on Robinhood Markets from $70.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Morgan Stanley boosted their price target on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Citigroup upped their price target on Robinhood Markets from $50.00 to $100.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus price target of $85.29.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total value of $26,966,067.48. Following the completion of the transaction, the director directly owned 7,863 shares in the company, valued at $506,848.98. This trade represents a 98.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,749,630 shares of company stock worth $221,118,663. Insiders own 19.95% of the company's stock.

About Robinhood Markets

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.