Oppenheimer & Co. Inc. Purchases 61,953 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Oppenheimer & Co. Inc. increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 237.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 88,076 shares of the company's stock after acquiring an additional 61,953 shares during the period. Oppenheimer & Co. Inc.'s holdings in Robinhood Markets were worth $3,666,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC grew 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 in the last quarter. CoreCap Advisors LLC boosted its stake in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after buying an additional 750 shares during the period. Colonial Trust Co SC purchased a new position in Robinhood Markets during the fourth quarter worth about $34,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Robinhood Markets by 139.9% in 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 during the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the sale, the chief technology officer now owns 5,853 shares of the company's stock, valued at $201,987.03. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,380,434 shares of company stock valued at $131,340,572 over the last three months. 14.47% of the stock is owned by company insiders.

Robinhood Markets Trading Up 0.9%

NASDAQ HOOD opened at $82.75 on Thursday. The firm has a market cap of $73.27 billion, a PE ratio of 47.02, a price-to-earnings-growth ratio of 4.84 and a beta of 2.25. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $85.55. The stock has a 50-day moving average of $62.15 and a 200-day moving average of $50.85.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 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 return on equity of 15.42% and a net margin of 48.77%. Robinhood Markets's revenue for the quarter was up 50.0% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HOOD shares. Barclays dropped their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. The Goldman Sachs Group raised their target price on shares of Robinhood Markets from $81.00 to $82.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Needham & Company LLC reiterated a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a research report on Tuesday, May 27th. Compass Point started coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target on the stock. Finally, Citigroup lowered their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $58.00.

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.

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