Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Purchased by M&T Bank Corp

M&T Bank Corp grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,042 shares of the company's stock after purchasing an additional 3,663 shares during the period. M&T Bank Corp's holdings in Robinhood Markets were worth $1,417,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC boosted its position in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets during the 1st quarter worth approximately $30,000. CoreCap Advisors LLC grew its position in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after acquiring an additional 750 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after acquiring an additional 498 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Up 1.6%

Shares of NASDAQ HOOD traded up $1.62 during trading on Monday, reaching $99.96. 47,064,177 shares of the company traded hands, compared to its average volume of 41,553,008. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $101.89. The stock has a market capitalization of $88.51 billion, a PE ratio of 56.80, a P/E/G ratio of 5.25 and a beta of 2.36. The firm has a 50 day simple moving average of $73.48 and a 200-day simple moving average of $55.53.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HOOD shares. Mizuho raised their price objective on Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. The Goldman Sachs Group raised their price target on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Morgan Stanley increased their target price on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. KeyCorp upped their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Cantor Fitzgerald boosted their price objective on Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.29.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the sale, the insider directly owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. This trade represents a 31.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,472,702 shares of company stock worth $179,396,832. 14.47% of the stock is owned by company insiders.

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.