Ninepoint Partners LP Buys Shares of 12,359 Robinhood Markets, Inc. (NASDAQ:HOOD)

Ninepoint Partners LP bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,359 shares of the company's stock, valued at approximately $514,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC boosted its holdings in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets in the first quarter valued at about $30,000. CoreCap Advisors LLC grew its position 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 in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after acquiring an additional 498 shares during the period. Finally, Colonial Trust Co SC bought a new position in Robinhood Markets during the fourth quarter valued at about $34,000. Institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. JMP Securities boosted their price target on shares of Robinhood Markets from $70.00 to $125.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Barclays raised their price objective on shares of Robinhood Markets from $57.00 to $102.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. The Goldman Sachs Group upped their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Cantor Fitzgerald raised their price target on shares of Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $85.29.

Robinhood Markets Trading Up 2.9%

Shares of HOOD traded up $2.92 during trading hours on Friday, hitting $104.85. 35,546,767 shares of the stock traded hands, compared to its average volume of 55,217,080. The business has a fifty day moving average of $82.95 and a 200-day moving average of $59.71. The firm has a market capitalization of $92.84 billion, a PE ratio of 59.57, a price-to-earnings-growth ratio of 5.20 and a beta of 2.36. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $113.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 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 analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. 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 firm earned $0.18 EPS. As a group, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Christopher D. Payne bought 26,500 shares of the business's stock in a transaction on Friday, June 13th. The shares were purchased at an average price of $74.19 per share, with a total value of $1,966,035.00. Following the completion of the purchase, the director owned 26,500 shares of the company's stock, valued at $1,966,035. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $93.88, for a total value of $2,347,000.00. Following the transaction, the insider owned 816,887 shares of the company's stock, valued at $76,689,351.56. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,696,644 shares of company stock worth $218,696,575. Corporate 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.