PNC Financial Services Group Inc. Buys 24,664 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

PNC Financial Services Group Inc. boosted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 366.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,389 shares of the company's stock after buying an additional 24,664 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Robinhood Markets were worth $1,306,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC grew its position in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares during the period. Wayfinding Financial LLC purchased a new stake in Robinhood Markets during the first quarter valued at about $30,000. CoreCap Advisors LLC lifted its holdings 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 purchasing an additional 550 shares during the last quarter. Colonial Trust Co SC purchased a new stake in Robinhood Markets during the fourth quarter valued at about $34,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings 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 purchasing an additional 498 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

HOOD has been the topic of several recent research reports. Redburn Atlantic reaffirmed a "sell" rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Compass Point increased their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Mizuho increased their price target on shares of Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. The Goldman Sachs Group increased their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $96.29.

Insider Activity

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the sale, the insider owned 228,621 shares in the company, valued at approximately $16,035,476.94. This trade represents a 31.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,752,293 shares of company stock worth $436,586,556 over the last ninety days. Company insiders own 14.47% of the company's stock.

Robinhood Markets Stock Performance

HOOD stock opened at $114.63 on Monday. The company has a market capitalization of $101.87 billion, a PE ratio of 58.19, a price-to-earnings-growth ratio of 4.37 and a beta of 2.36. Robinhood Markets, Inc. has a one year low of $17.55 and a one year high of $117.00. The company's 50 day moving average price is $91.32 and its two-hundred day moving average price is $64.19.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business's revenue was up 45.0% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.

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