35,032 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Acquired by Private Advisory Group LLC

Key Points

• Private Advisory Group LLC acquired 35,032 shares of Robinhood Markets, valued at approximately $1,458,000, during the first quarter, as reported in their Form 13F filing.
• JPMorgan Chase & Co. raised their price target on Robinhood shares from $44.00 to $47.00, while other brokerages set targets up to $110.00, with a consensus rating of "Moderate Buy."
• Insider sales were significant, with Director Baiju Bhatt selling 418,338 shares for over $31 million, resulting in a 98.16% decrease in his stock ownership.

Private Advisory Group LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 35,032 shares of the company's stock, valued at approximately $1,458,000.

Several other institutional investors have also bought and sold shares of HOOD. FMR LLC lifted its stake in 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 purchasing an additional 26,107,934 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after purchasing an additional 3,994,745 shares during the last quarter. Wealthquest Corp purchased a new position in Robinhood Markets in the first quarter valued at approximately $156,193,000. AQR Capital Management LLC raised its holdings in Robinhood Markets by 231.9% during the 4th quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock valued at $195,907,000 after acquiring an additional 3,673,861 shares during the period. Finally, Southpoint Capital Advisors LP bought a new stake in Robinhood Markets during the 4th quarter valued at $130,410,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the 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 completion of the transaction, the insider directly owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,026,690 shares of company stock valued at $257,160,102 over the last three months. Corporate insiders own 14.47% of the company's stock.

Robinhood Markets Price Performance

HOOD stock traded down $5.44 during trading on Friday, reaching $97.61. The company had a trading volume of 16,560,342 shares, compared to its average volume of 41,477,398. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $113.44. The company has a market cap of $86.43 billion, a P/E ratio of 49.17, a PEG ratio of 5.40 and a beta of 2.36. The business has a 50 day moving average of $86.18 and a 200 day moving average of $61.49.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.69%. The company had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same period in the prior year, the firm earned $0.21 earnings per share. Robinhood Markets's revenue was up 45.0% on a year-over-year basis. Research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HOOD shares. KeyCorp boosted their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Needham & Company LLC boosted their target price on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a report on Thursday. Piper Sandler boosted their target price on shares of Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday. Compass Point boosted their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, Cantor Fitzgerald upped their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $96.29.

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.