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HighTower Advisors LLC grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 6.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 50,264 shares of the company’s stock after buying an additional 3,032 shares during the period. HighTower Advisors LLC’s holdings in Robinhood Markets were worth $2,092,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the business. MetLife Investment Management LLC lifted its stake in shares of Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock valued at $440,000 after purchasing an additional 171 shares during the last quarter. Hemington Wealth Management lifted its stake in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock valued at $290,000 after purchasing an additional 265 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Robinhood Markets by 23.4% in the 1st quarter. Allworth Financial LP now owns 1,401 shares of the company’s stock valued at $58,000 after purchasing an additional 266 shares during the last quarter. Finally, HighPoint Advisor Group LLC lifted its stake in Robinhood Markets by 0.8% during the 1st quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company’s stock worth $1,520,000 after acquiring an additional 272 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.
Insiders Place Their Bets
In other news, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the transaction, the insider owned 228,621 shares in the company, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,644,685 shares of company stock worth $448,881,884. Insiders own 14.47% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on HOOD shares. KeyCorp increased 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, July 1st. The Goldman Sachs Group increased their target price on Robinhood Markets from $91.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. JPMorgan Chase & Co. increased their target price on Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Finally, Keefe, Bruyette & Woods increased their target price on Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a research note on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.31.
View Our Latest Analysis on Robinhood Markets
Robinhood Markets Price Performance
Shares of NASDAQ HOOD opened at $109.32 on Friday. The stock’s 50-day moving average is $98.88 and its two-hundred day moving average is $68.20. Robinhood Markets, Inc. has a 1-year low of $18.71 and a 1-year high of $117.70. The company has a market cap of $97.15 billion, a price-to-earnings ratio of 55.49, a price-to-earnings-growth ratio of 4.01 and a beta of 2.36.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same quarter in the prior year, the business earned $0.21 EPS. Robinhood Markets’s revenue was up 45.0% on a year-over-year basis. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal 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.
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Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report).
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