Tcfg Wealth Management LLC Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Tcfg Wealth Management LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,820 shares of the company's stock, valued at approximately $201,000.

Several other institutional investors have also recently bought and sold shares of the company. MetLife Investment Management LLC raised its holdings in Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after acquiring an additional 171 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock worth $368,000 after acquiring an additional 233 shares during the period. Farther Finance Advisors LLC raised its holdings in Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after acquiring an additional 265 shares during the period. First Horizon Advisors Inc. raised its holdings in Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock worth $142,000 after acquiring an additional 277 shares during the period. Finally, City State Bank raised its holdings in Robinhood Markets by 94.0% in the 1st quarter. City State Bank now owns 970 shares of the company's stock worth $40,000 after acquiring an additional 470 shares during the period. Institutional investors own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $73.49, for a total value of $431,018.85. Following the transaction, the chief technology officer now directly owns 20,636 shares in the company, valued at $1,516,539.64. The trade was a 22.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total transaction of $31,078,330.02. Following the completion of the transaction, the director now owns 7,863 shares in the company, valued at approximately $584,142.27. This trade represents a 98.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,650,974 shares of company stock worth $142,977,123 over the last ninety days. Corporate insiders own 14.47% of the company's stock.

Analysts Set New Price Targets

HOOD has been the topic of several recent analyst reports. Barclays dropped their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Cantor Fitzgerald dropped their target price on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Morgan Stanley raised their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their price objective 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. Finally, KeyCorp dropped their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $57.17.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $72.60 on Monday. The firm's 50-day simple moving average is $56.22 and its 200-day simple moving average is $48.81. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $77.80. The firm has a market cap of $64.28 billion, a P/E ratio of 46.24, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25.

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 net margin of 47.81% and a return on equity of 13.53%. Robinhood Markets's revenue was up 50.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. On average, equities analysts forecast 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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