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TD Private Client Wealth LLC increased its position in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 184.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,829 shares of the company’s stock after purchasing an additional 1,186 shares during the period. TD Private Client Wealth LLC’s holdings in Robinhood Markets were worth $76,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. BOCHK Asset Management Ltd boosted its holdings in shares of Robinhood Markets by 12.0% in the first quarter. BOCHK Asset Management Ltd now owns 499,972 shares of the company’s stock valued at $20,809,000 after acquiring an additional 53,372 shares during the period. Envestnet Asset Management Inc. raised its position in Robinhood Markets by 30.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 328,511 shares of the company’s stock valued at $13,673,000 after purchasing an additional 75,745 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in Robinhood Markets by 10.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 5,558 shares of the company’s stock worth $231,000 after purchasing an additional 516 shares during the period. Cloud Capital Management LLC purchased a new position in Robinhood Markets during the 1st quarter worth $47,000. Finally, Riggs Asset Managment Co. Inc. increased its stake in Robinhood Markets by 7,581.8% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,690 shares of the company’s stock valued at $70,000 after purchasing an additional 1,668 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.
Robinhood Markets Price Performance
Shares of NASDAQ:HOOD opened at $98.34 on Friday. The firm has a market capitalization of $87.08 billion, a price-to-earnings ratio of 55.88, a price-to-earnings-growth ratio of 5.30 and a beta of 2.36. The business’s 50 day simple moving average is $73.48 and its 200-day simple moving average is $55.42. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $101.50.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last posted its 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). 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 quarter in the previous year, the firm posted $0.18 earnings per share. The firm’s revenue for the quarter was up 50.0% compared to the same quarter last year. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages have recently weighed in on HOOD. Mizuho increased their target price 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. JPMorgan Chase & Co. increased their price objective on Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. Citigroup upped their price target on Robinhood Markets from $50.00 to $100.00 and gave the stock a “neutral” rating in a research note on Monday, July 7th. Finally, Cantor Fitzgerald lifted their price objective on shares of Robinhood Markets from $89.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $76.06.
View Our Latest Stock Report on HOOD
Insider Transactions at Robinhood Markets
In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $93.51, for a total value of $548,342.64. Following the completion of the sale, the chief technology officer directly owned 8,908 shares in the company, valued at approximately $832,987.08. The trade was a 39.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,472,702 shares of company stock worth $179,396,832 in the last 90 days. Insiders own 14.47% of the company’s stock.
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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