WCM Investment Management LLC Makes New $13.04 Million Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

WCM Investment Management LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 310,978 shares of the company's stock, valued at approximately $13,036,000.

Several other large investors have also recently made changes to their positions in HOOD. Whipplewood Advisors LLC grew its position in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares in the last quarter. CoreCap Advisors LLC boosted 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 purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after purchasing an additional 750 shares in the last quarter. Colonial Trust Co SC purchased a new stake in Robinhood Markets during the 4th quarter worth approximately $34,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after buying an additional 498 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares in the company, valued at $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,447,691 shares of company stock valued at $176,703,476 over the last quarter. Company insiders own 14.47% of the company's stock.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock traded down $3.85 during trading hours on Thursday, hitting $94.13. The company had a trading volume of 56,373,803 shares, compared to its average volume of 29,364,051. The company's 50-day moving average is $67.00 and its two-hundred day moving average is $52.62. The company has a market cap of $83.35 billion, a P/E ratio of 53.48, a price-to-earnings-growth ratio of 4.70 and a beta of 2.36. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $100.88.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued 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 return on equity of 15.42% and a net margin of 48.77%. The firm had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. During the same period in the previous year, the business posted $0.18 EPS. The business's revenue for the quarter was up 50.0% compared to the same quarter last year. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Cantor Fitzgerald boosted their price target on shares of Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday. KeyCorp boosted their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. JMP Securities reiterated a "market outperform" rating and issued a $70.00 price objective on shares of Robinhood Markets in a research note on Thursday, May 1st. Finally, Needham & Company LLC reissued a "buy" rating and set a $71.00 price objective on shares of Robinhood Markets in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

Robinhood Markets 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.