Private Trust Co. NA Increases Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Private Trust Co. NA boosted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 8,726.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,590 shares of the company's stock after buying an additional 4,538 shares during the quarter. Private Trust Co. NA's holdings in Robinhood Markets were worth $191,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HOOD. Wealthcare Advisory Partners LLC bought a new position in Robinhood Markets during the 1st quarter valued at $277,000. Fiduciary Alliance LLC bought a new position in Robinhood Markets during the 1st quarter valued at $2,177,000. Invesco Ltd. boosted its stake in Robinhood Markets by 132.6% during the 4th quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock valued at $106,847,000 after purchasing an additional 1,634,599 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Robinhood Markets by 335.6% during 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 purchasing an additional 3,994,745 shares in the last quarter. Finally, Syquant Capital Sas bought a new position in Robinhood Markets during the 1st quarter valued at $445,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their price objective on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. Compass Point increased their target price on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, Citigroup increased their target price on Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a report on Monday. One research 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $72.71.

Robinhood Markets Trading Down 1.0%

NASDAQ HOOD opened at $93.46 on Tuesday. The company has a fifty day simple moving average of $69.70 and a 200 day simple moving average of $53.95. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $100.88. The company has a market cap of $82.76 billion, a P/E ratio of 53.10, a PEG ratio of 4.80 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its 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). 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 for the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The company's revenue for the quarter was up 50.0% on a year-over-year basis. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total value of $26,966,067.48. Following the transaction, the director directly owned 7,863 shares in the company, valued at $506,848.98. This trade represents a 98.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,441,838 shares of company stock valued at $176,501,489 in the last quarter. 19.95% of the stock is currently owned by corporate insiders.

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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