SkyOak Wealth LLC Purchases Shares of 30,065 Robinhood Markets, Inc. (NASDAQ:HOOD)

SkyOak Wealth LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,065 shares of the company's stock, valued at approximately $1,251,000.

Several other institutional investors have also recently made changes to their positions in the business. MetLife Investment Management LLC raised its holdings in shares of Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Robinhood Markets by 4.0% in the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after buying an additional 265 shares in the last quarter. Allworth Financial LP increased its holdings in Robinhood Markets by 23.4% in the first quarter. Allworth Financial LP now owns 1,401 shares of the company's stock valued at $58,000 after buying an additional 266 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in Robinhood Markets by 1.1% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 28,850 shares of the company's stock valued at $1,201,000 after buying an additional 320 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Robinhood Markets by 28.6% in the first quarter. Blue Trust Inc. now owns 1,998 shares of the company's stock valued at $83,000 after buying an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $70.00 price objective on shares of Robinhood Markets in a report on Thursday, May 1st. KeyCorp lifted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $71.00 price objective on shares of Robinhood Markets in a report on Tuesday, May 27th. Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Finally, Morgan Stanley lifted their price objective on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $76.06.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the completion of the sale, the director directly owned 7,863 shares of the company's stock, valued at $506,848.98. The trade was a 98.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of the company'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 a total of 2,472,702 shares of company stock valued at $179,396,832 over the last quarter. Company insiders own 19.95% of the company's stock.

Robinhood Markets Trading Down 0.4%

Shares of NASDAQ HOOD traded down $0.36 during midday trading on Friday, reaching $98.34. 60,149,672 shares of the stock were exchanged, compared to its average volume of 30,346,786. The company has a market capitalization of $87.08 billion, a P/E ratio of 55.88, a P/E/G ratio of 5.25 and a beta of 2.36. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $101.50. The stock has a 50 day moving average price of $73.48 and a 200-day moving average price of $55.53.

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

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.