Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Bought by LPL Financial LLC

LPL Financial LLC grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 58.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 478,131 shares of the company's stock after purchasing an additional 176,995 shares during the period. LPL Financial LLC owned approximately 0.05% of Robinhood Markets worth $19,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. MetLife Investment Management LLC lifted its stake in Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after buying an additional 171 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Robinhood Markets by 4.0% during the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after purchasing an additional 265 shares during the period. Allworth Financial LP boosted its position in shares of Robinhood Markets by 23.4% in the first quarter. Allworth Financial LP now owns 1,401 shares of the company's stock worth $58,000 after buying an additional 266 shares during the period. HighPoint Advisor Group LLC raised its position in Robinhood Markets by 0.8% during the first quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock valued at $1,520,000 after buying an additional 272 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its position in Robinhood Markets by 1.1% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 28,850 shares of the company's stock worth $1,201,000 after acquiring an additional 320 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on HOOD shares. JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Cantor Fitzgerald lifted their price objective on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. KeyCorp raised their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Citigroup raised their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $96.29.

Insider Activity

In other news, insider Steven M. Quirk sold 104,887 shares of the 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 sale, the insider owned 228,621 shares of the company's stock, valued at $16,035,476.94. This represents a 31.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated 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. Insiders sold 4,805,629 shares of company stock valued at $436,324,686 in the last quarter. Company insiders own 19.95% of the company's stock.

Robinhood Markets Trading Up 0.2%

Shares of NASDAQ:HOOD traded up $0.19 during midday trading on Wednesday, reaching $105.65. 32,930,766 shares of the company were exchanged, compared to its average volume of 41,848,324. The stock has a market cap of $93.55 billion, a PE ratio of 53.63, a price-to-earnings-growth ratio of 4.06 and a beta of 2.36. The business's fifty day moving average is $88.57 and its two-hundred day moving average is $62.82. Robinhood Markets, Inc. has a one year low of $16.68 and a one year high of $113.44.

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, beating analysts' consensus estimates of $0.30 by $0.12. The company had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. Robinhood Markets's revenue was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 EPS. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.