Atria Wealth Solutions Inc. Boosts Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Atria Wealth Solutions Inc. increased its holdings in Robinhood Markets by 11.6% during Q1, purchasing an additional 4,546 shares, bringing its total value to $1.82 million.
• Robinhood Markets reported $0.42 EPS for the quarter, exceeding analysts' expectations of $0.30, and achieved a revenue of $989 million, up 45.0% year-over-year.
• Several analysts have raised their price targets for Robinhood shares, with Goldman Sachs increasing its target from $91 to $104 and Mizuho updating theirs from $99 to $120.

Atria Wealth Solutions Inc. raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,720 shares of the company's stock after purchasing an additional 4,546 shares during the period. Atria Wealth Solutions Inc.'s holdings in Robinhood Markets were worth $1,820,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of HOOD. Whipplewood Advisors LLC raised its position in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the period. Wayfinding Financial LLC purchased a new position in Robinhood Markets in the 1st quarter worth $30,000. CoreCap Advisors LLC raised its position in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the period. Colonial Trust Co SC purchased a new position in Robinhood Markets in the 4th quarter worth $34,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in Robinhood Markets by 139.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after purchasing an additional 498 shares during the period. 93.27% of the stock is owned by institutional investors.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $104.73, for a total value of $614,136.72. Following the sale, the chief technology officer directly owned 3,044 shares of the company's stock, valued at approximately $318,798.12. This represents a 65.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven M. Quirk sold 40,131 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $104.71, for a total value of $4,202,117.01. Following the completion of the sale, the insider directly owned 120,408 shares in the company, valued at approximately $12,607,921.68. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,644,685 shares of company stock valued at $430,085,957. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD traded up $0.47 during midday trading on Tuesday, hitting $114.09. 31,418,771 shares of the company traded hands, compared to its average volume of 41,767,250. Robinhood Markets, Inc. has a 12-month low of $18.36 and a 12-month high of $117.70. The stock has a 50-day moving average price of $92.24 and a 200 day moving average price of $64.62. The firm has a market cap of $101.39 billion, a P/E ratio of 57.91, a P/E/G ratio of 4.37 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. Robinhood Markets's quarterly revenue was up 45.0% on a year-over-year basis. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HOOD shares. Piper Sandler lifted their target price on shares of Robinhood Markets from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Compass Point boosted their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. KeyCorp boosted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. JMP Securities boosted their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald upped their target price on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $96.29.

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.