RFG Holdings Inc. Invests $327,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

RFG Holdings Inc. purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,856 shares of the company's stock, valued at approximately $327,000.

Several other institutional investors have also added to or reduced their stakes in the business. IFP Advisors Inc lifted its stake in shares of Robinhood Markets by 601.1% in the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock valued at $164,000 after purchasing an additional 3,769 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock valued at $175,857,000 after buying an additional 138,267 shares during the period. Aigen Investment Management LP grew its stake in shares of 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 buying an additional 52,988 shares in the last quarter. Allegiance Financial Group Advisory Services LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth $207,000. Finally, Fiduciary Alliance LLC purchased a new position in Robinhood Markets in the first quarter valued at $2,177,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the sale, the chief technology officer now owns 5,853 shares in the company, valued at approximately $201,987.03. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 223,528 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $43.21, for a total value of $9,658,644.88. Following the sale, the director now directly owns 5,042 shares of the company's stock, valued at approximately $217,864.82. This represents a 97.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,650,974 shares of company stock worth $142,977,123. 14.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several research reports. KeyCorp reduced their price target on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and set a $71.00 price target on shares of Robinhood Markets in a research note on Tuesday, May 27th. Compass Point started coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They set a "buy" rating and a $61.00 price target on the stock. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a report on Thursday, March 27th. Finally, Morgan Stanley upped their target price on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.17.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock traded down $1.24 during trading on Friday, hitting $72.60. 27,696,951 shares of the stock were exchanged, compared to its average volume of 27,333,764. The stock's fifty day moving average is $55.45 and its 200 day moving average is $48.40. The stock has a market cap of $64.28 billion, a PE ratio of 46.24, a P/E/G ratio of 1.05 and a beta of 2.25. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $77.80.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The firm's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal 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.