Merit Financial Group LLC Boosts Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Merit Financial Group LLC grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 31.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,625 shares of the company's stock after purchasing an additional 5,686 shares during the quarter. Merit Financial Group LLC's holdings in Robinhood Markets were worth $983,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreCap Advisors LLC raised its stake in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after buying an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Robinhood Markets by 750.0% in the 4th 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 bought a new stake in shares of Robinhood Markets during the 4th quarter valued at about $34,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after purchasing an additional 498 shares in the last quarter. Finally, Silicon Valley Capital Partners bought a new stake in Robinhood Markets in the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on HOOD shares. Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 price objective on shares of Robinhood Markets in a research report on Tuesday, May 27th. Citigroup reduced their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. The Goldman Sachs Group increased their price objective on shares of Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Compass Point initiated coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday. One investment 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $56.17.

Robinhood Markets Trading Down 2.0%

Shares of NASDAQ:HOOD traded down $1.48 during midday trading on Monday, reaching $73.40. The company had a trading volume of 65,444,976 shares, compared to its average volume of 27,106,106. The stock has a market cap of $64.99 billion, a P/E ratio of 46.75, a P/E/G ratio of 1.05 and a beta of 2.25. The company's 50 day moving average price is $52.58 and its 200 day moving average price is $47.54. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $77.80.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The firm's revenue was up 50.0% compared to the same quarter last year. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total transaction of $957,750.00. Following the sale, the insider now owns 822,825 shares of the company's stock, valued at $31,522,425.75. The trade was a 2.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the transaction, the chief technology officer now directly owns 5,853 shares of the company's stock, valued at $201,987.03. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,226,771 shares of company stock worth $111,467,774. Insiders own 14.47% 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.