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

Venturi Wealth Management LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 22,980 shares of the company's stock, valued at approximately $956,000.

A number of other institutional investors have also recently added to or reduced their stakes in HOOD. Whipplewood Advisors LLC grew its holdings in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets in the first quarter worth $30,000. CoreCap Advisors LLC lifted its stake in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Robinhood Markets by 139.9% during 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 bought a new position in Robinhood Markets during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Up 2.9%

NASDAQ:HOOD traded up $2.92 on Friday, hitting $104.85. The company had a trading volume of 35,546,767 shares, compared to its average volume of 55,217,080. The firm has a 50 day moving average of $82.95 and a two-hundred day moving average of $59.84. The stock has a market capitalization of $92.84 billion, a price-to-earnings ratio of 59.57, a PEG ratio of 5.35 and a beta of 2.36. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $113.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted 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 company had revenue of $927.00 million during 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%. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total value of $31,078,330.02. Following the sale, the director owned 7,863 shares of the company's stock, valued at $584,142.27. The trade was a 98.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Insiders have sold 2,696,644 shares of company stock valued at $218,696,575 over the last ninety days. Corporate insiders own 14.47% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Mizuho raised their price target on shares of Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Citigroup lifted their target price on shares of Robinhood Markets from $50.00 to $100.00 and gave the stock a "neutral" rating in a report on Monday, July 7th. JPMorgan Chase & Co. lifted 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 price target on shares of Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, JMP Securities lifted their price target on shares of Robinhood Markets from $70.00 to $125.00 and gave the stock a "market outperform" rating in a research report on Monday, July 14th. One equities 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $85.29.

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.