17,000 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Acquired by Nkcfo LLC

Key Points

• Nkcfo LLC purchased a new position in Robinhood Markets, acquiring 17,000 shares valued at approximately $708,000 in the first quarter.
• Robinhood reported $0.37 earnings per share for the quarter, missing estimates but showing a 50% increase in revenue year-over-year.
• Despite mixed ratings from analysts, Robinhood has a consensus price target of $85.29 and significant interest from institutional investors.

Nkcfo LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,000 shares of the company's stock, valued at approximately $708,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC increased 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 purchasing an additional 508 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Robinhood Markets during the 1st quarter valued at about $30,000. CoreCap Advisors LLC grew its holdings in 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 purchased a new position in Robinhood Markets during the 4th quarter valued at about $34,000. 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 valued at $36,000 after buying an additional 498 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $74.29, for a total value of $31,078,330.02. Following the completion of the transaction, the director directly owned 7,863 shares of the company's stock, valued at $584,142.27. The trade was a 98.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,026,690 shares of company stock valued at $257,160,102. 14.47% of the stock is owned by company insiders.

Robinhood Markets Price Performance

Robinhood Markets stock traded down $2.15 during trading hours on Thursday, hitting $103.95. 42,924,685 shares of the stock traded hands, compared to its average volume of 41,577,602. The firm's 50 day moving average price is $85.42 and its 200-day moving average price is $61.05. The stock has a market capitalization of $92.05 billion, a price-to-earnings ratio of 59.16, a P/E/G ratio of 5.26 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 earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The firm had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. The company's revenue was up 45.0% compared to the same quarter last year. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. KeyCorp boosted their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. JMP Securities upped their price target on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research note on Thursday. Compass Point boosted their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Barclays increased their target price on Robinhood Markets from $57.00 to $102.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods increased their target price on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $94.06.

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.