Pekin Hardy Strauss Inc. Invests $250,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Pekin Hardy Strauss Inc. acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,000 shares of the company's stock, valued at approximately $250,000.

A number of other institutional investors have also made changes to their positions in the business. FMR LLC grew its stake in shares of Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares in the last quarter. Norges Bank bought a new position in Robinhood Markets during the 4th quarter worth approximately $329,598,000. GQG Partners LLC bought a new position in Robinhood Markets during the 4th quarter worth approximately $302,325,000. Artisan Partners Limited Partnership bought a new stake in shares of Robinhood Markets in the 4th quarter valued at $152,949,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after acquiring an additional 3,994,745 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Activity at Robinhood Markets

In other news, insider Steven M. Quirk sold 92,257 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total value of $7,838,154.72. Following the completion of the transaction, the insider directly owned 136,364 shares of the company's stock, valued at $11,585,485.44. The trade was a 40.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the business's 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. Insiders sold 2,466,838 shares of company stock valued at $178,848,489 in the last 90 days. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Stock Up 3.6%

Shares of Robinhood Markets stock traded up $3.27 during trading on Wednesday, reaching $94.54. The company's stock had a trading volume of 42,085,269 shares, compared to its average volume of 29,857,148. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $100.88. The company has a market capitalization of $83.71 billion, a P/E ratio of 53.72, a price-to-earnings-growth ratio of 4.75 and a beta of 2.36. The business has a 50 day moving average price of $70.54 and a 200-day moving average price of $54.21.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The business 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 firm's quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share. Research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HOOD. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. Morgan Stanley increased their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. The Goldman Sachs Group upped their price objective on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday. JMP Securities reiterated a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research report on Thursday, May 1st. Finally, Needham & Company LLC reissued a "buy" rating and set a $71.00 price objective on shares of Robinhood Markets in a research note on Tuesday, May 27th. One equities 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 company. Based on data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus price target of $72.71.

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.