Sequoia Financial Advisors LLC Raises Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Sequoia Financial Advisors LLC increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 72.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,426 shares of the company's stock after buying an additional 4,370 shares during the period. Sequoia Financial Advisors LLC's holdings in Robinhood Markets were worth $434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of HOOD. Whipplewood Advisors LLC grew its holdings in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the last quarter. CoreCap Advisors LLC grew its position in Robinhood Markets by 191.6% during 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. Creative Financial Designs Inc. ADV grew its holdings in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after acquiring an additional 750 shares during the period. Colonial Trust Co SC purchased a new position in shares of Robinhood Markets during the 4th quarter valued at approximately $34,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after buying an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price objective on shares of Robinhood Markets from $82.00 to $91.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Cantor Fitzgerald lifted their price target on Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday. Morgan Stanley upped their price objective on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a research note on Tuesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $69.00.

Robinhood Markets Stock Down 3.9%

Robinhood Markets stock traded down $3.85 during trading on Thursday, reaching $94.13. The stock had a trading volume of 56,373,803 shares, compared to its average volume of 29,364,051. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $100.88. The business has a 50 day moving average price of $67.00 and a 200 day moving average price of $52.62. The stock has a market cap of $83.35 billion, a PE ratio of 53.48, a P/E/G ratio of 4.70 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. Robinhood Markets's revenue was up 50.0% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Baiju Bhatt sold 418,338 shares of the firm's 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 directly owned 7,863 shares in the company, valued at approximately $506,848.98. This represents a 98.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,447,691 shares of company stock worth $176,703,476 over the last 90 days. Corporate insiders own 14.47% of the company's stock.

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.