SeaCrest Wealth Management LLC Raises Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

SeaCrest Wealth Management LLC grew its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 174.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,722 shares of the company's stock after buying an additional 11,912 shares during the quarter. SeaCrest Wealth Management LLC's holdings in Robinhood Markets were worth $779,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in HOOD. Whipplewood Advisors LLC lifted its holdings in shares of 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 buying an additional 508 shares during the period. CoreCap Advisors LLC lifted its holdings in shares of 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 buying an additional 550 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after buying an additional 750 shares during the period. Colonial Trust Co SC purchased a new stake in shares of Robinhood Markets in the 4th quarter worth $34,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 buying an additional 498 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HOOD shares. Keefe, Bruyette & Woods reiterated 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 assumed coverage on Robinhood Markets in a research note on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective for the company. Barclays decreased their price objective on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Piper Sandler upped their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Finally, JMP Securities restated a "market outperform" rating and set a $70.00 price objective on shares of Robinhood Markets in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $55.41.

Insider Activity

In other news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total value of $26,966,067.48. Following the transaction, the director now directly owns 7,863 shares of the company's stock, valued at approximately $506,848.98. This represents a 98.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,226,771 shares of company stock valued at $111,467,774. Company insiders own 14.47% of the company's stock.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $74.88 on Friday. The stock has a 50-day moving average of $52.58 and a two-hundred day moving average of $47.38. The stock has a market cap of $66.30 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $77.80.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The firm had revenue of $927.00 million during 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. As a group, sell-side analysts predict 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.

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