Sheaff Brock Investment Advisors LLC Increases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Sheaff Brock Investment Advisors LLC increased its stake in Robinhood Markets, Inc. by 20.2% during the 1st quarter, bringing its total ownership to 16,525 shares valued at $688,000.
• Multiple hedge funds showed significant interest in Robinhood, with Whipplewood Advisors LLC increasing its stake by 564.4% and new purchases from other firms, indicating a strong institutional backing for the company.
• Analysts have upgraded their price targets for Robinhood Markets, with projections ranging from $99.00 to $125.00, reflecting a consensus rating of "Moderate Buy."

Sheaff Brock Investment Advisors LLC grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 20.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,525 shares of the company's stock after buying an additional 2,775 shares during the period. Sheaff Brock Investment Advisors LLC's holdings in Robinhood Markets were worth $688,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Whipplewood Advisors LLC increased its stake in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares during the period. Wayfinding Financial LLC purchased a new stake in Robinhood Markets in the first quarter worth $30,000. CoreCap Advisors LLC grew its stake in Robinhood Markets by 191.6% in the fourth 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. MassMutual Private Wealth & Trust FSB grew its stake in Robinhood Markets by 139.9% in the first 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. Finally, Colonial Trust Co SC purchased a new stake in Robinhood Markets in the fourth quarter worth $34,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HOOD has been the topic of several recent research reports. The Goldman Sachs Group upped their price target on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Cantor Fitzgerald upped their price target on Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Mizuho boosted their target price on Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. JMP Securities boosted their target price on Robinhood Markets from $70.00 to $125.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Finally, Morgan Stanley boosted their target price on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.29.

Insiders Place Their Bets

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the transaction, the insider directly owned 228,621 shares in the company, valued at $16,035,476.94. This trade represents a 31.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. Insiders have sold 3,020,826 shares of company stock worth $256,545,966 in the last ninety days. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Up 1.8%

Shares of HOOD opened at $106.77 on Tuesday. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $113.44. The business has a 50-day simple moving average of $83.80 and a two-hundred day simple moving average of $60.44. The stock has a market cap of $94.54 billion, a price-to-earnings ratio of 60.67, a PEG ratio of 5.35 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data 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). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same period in the previous year, the business earned $0.18 earnings per share. Robinhood Markets's revenue for the quarter was up 50.0% on a year-over-year basis. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

About Robinhood Markets

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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