Perigon Wealth Management LLC Makes New $233,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Perigon Wealth Management LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 5,599 shares of the company's stock, valued at approximately $233,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc grew its stake in Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after buying an additional 3,769 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in Robinhood Markets during the 1st quarter worth $277,000. Charles Schwab Investment Management Inc. boosted its position in Robinhood Markets by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after purchasing an additional 138,267 shares during the period. Aigen Investment Management LP raised its position in Robinhood Markets by 161.2% in the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock valued at $3,199,000 after purchasing an additional 52,988 shares during the period. Finally, Fiduciary Alliance LLC acquired a new position in shares of Robinhood Markets during the first quarter worth about $2,177,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HOOD. The Goldman Sachs Group raised their target price on Robinhood Markets from $82.00 to $91.00 and gave the company a "buy" rating in a report on Friday, June 27th. Redburn Atlantic restated a "sell" rating and issued a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Citigroup lowered their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Mizuho lifted their price target on shares of Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, JMP Securities reissued a "market outperform" rating and issued a $70.00 price objective on shares of Robinhood Markets in a research report on Thursday, May 1st. One 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm'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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the transaction, the insider owned 228,621 shares of the company's stock, valued at $16,035,476.94. This represents a 31.45% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,447,691 shares of company stock valued at $176,703,476. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Price Performance

HOOD traded down $3.85 during trading hours on Friday, hitting $94.13. 56,373,803 shares of the stock were exchanged, compared to its average volume of 29,450,983. The stock has a market cap of $83.35 billion, a price-to-earnings ratio of 53.48, a price-to-earnings-growth ratio of 4.98 and a beta of 2.36. The stock has a 50-day simple moving average of $67.91 and a 200-day simple moving average of $52.97. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $100.88.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The business had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. The company's quarterly revenue was up 50.0% compared to the same quarter last year. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.