Mount Lucas Management LP Takes $554,000 Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Mount Lucas Management LP acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,299 shares of the company's stock, valued at approximately $554,000.

Several other hedge funds have also added to or reduced their stakes in HOOD. Whipplewood Advisors LLC lifted its stake in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Robinhood Markets during the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC lifted its stake in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares in the last quarter. Colonial Trust Co SC bought a new stake in Robinhood Markets during the 4th quarter worth approximately $34,000. Finally, MassMutual Private Wealth & Trust FSB raised 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 buying an additional 498 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

NASDAQ:HOOD traded up $2.92 during mid-day trading on Friday, hitting $104.85. 35,546,767 shares of the company's stock were exchanged, compared to its average volume of 55,217,080. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $113.44. The business has a fifty day moving average price of $82.95 and a 200 day moving average price of $59.84. The company has a market cap of $92.84 billion, a PE ratio of 59.57, a P/E/G ratio of 5.35 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same period in the previous year, the firm earned $0.18 EPS. The company's revenue was up 50.0% on a year-over-year basis. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HOOD. Citigroup raised their price objective on shares of Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a research report on Monday, July 7th. Piper Sandler increased their target price on shares of Robinhood Markets from $70.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. JPMorgan Chase & Co. increased their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $85.29.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 385,485 shares of Robinhood Markets stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total value of $39,280,921.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher D. Payne bought 26,500 shares of the firm's stock in a transaction on Friday, June 13th. The stock was purchased at an average cost of $74.19 per share, with a total value of $1,966,035.00. Following the completion of the acquisition, the director directly owned 26,500 shares of the company's stock, valued at approximately $1,966,035. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 2,696,644 shares of company stock valued at $218,696,575 over the last three months. 14.47% of the stock is currently owned by corporate insiders.

Robinhood Markets 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.