Nicholas Wealth LLC. Invests $1.11 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

Nicholas Wealth LLC. bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 26,682 shares of the company's stock, valued at approximately $1,111,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC boosted its position 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 acquiring an additional 508 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Robinhood Markets in the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC lifted 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 purchasing an additional 550 shares in the last quarter. Colonial Trust Co SC purchased a new position in shares of Robinhood Markets during the fourth quarter worth $34,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Robinhood Markets by 139.9% in the first 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 and hedge funds own 93.27% of the company's stock.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of the company'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 owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. This represents a 31.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,696,644 shares of company stock valued at $218,696,575. 14.47% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on HOOD shares. Morgan Stanley increased their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Cantor Fitzgerald increased their price objective on Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Redburn Atlantic reissued a "sell" rating and set a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. KeyCorp increased their price target on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Citigroup upped their target price on shares of Robinhood Markets from $50.00 to $100.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $85.29.

Robinhood Markets Stock Up 2.9%

Shares of NASDAQ HOOD traded up $2.92 during midday trading on Friday, hitting $104.85. The company had a trading volume of 35,546,767 shares, compared to its average volume of 55,217,080. The firm has a market capitalization of $92.84 billion, a price-to-earnings ratio of 59.57, a price-to-earnings-growth ratio of 5.20 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 business has a 50-day simple moving average of $82.95 and a two-hundred day simple moving average of $59.71.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million during 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 company's quarterly revenue was up 50.0% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.