Straight Path Wealth Management Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Straight Path Wealth Management acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,200 shares of the company's stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC raised its position 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 in the last quarter. CoreCap Advisors LLC lifted its position in shares of 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 buying an additional 550 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after buying an additional 750 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position 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 acquiring an additional 498 shares during the period. Finally, Colonial Trust Co SC bought a new stake in Robinhood Markets in the fourth quarter valued at $34,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Down 3.9%

Shares of HOOD stock traded down $3.85 during trading hours on Friday, hitting $94.13. 56,373,803 shares of the company's stock traded hands, compared to its average volume of 29,450,983. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $100.88. The stock has a market cap of $83.35 billion, a price-to-earnings ratio of 53.48, a PEG ratio of 4.98 and a beta of 2.36. The stock's fifty day simple moving average is $67.91 and its two-hundred day simple moving average is $52.97.

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

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $77.82, for a total transaction of $456,336.48. Following the sale, the chief technology officer owned 14,772 shares in the company, valued at approximately $1,149,557.04. The trade was a 28.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 92,257 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total transaction of $7,838,154.72. Following the transaction, the insider owned 136,364 shares of the company's stock, valued at $11,585,485.44. This represents a 40.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,447,691 shares of company stock valued at $176,703,476. 14.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HOOD shares. JPMorgan Chase & Co. upped their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Cantor Fitzgerald lifted their target price on Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday. Redburn Atlantic restated a "sell" rating and issued a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

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.