Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOODFree Report) by 40.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,101 shares of the company’s stock after acquiring an additional 13,202 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Robinhood Markets were worth $928,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Robinhood Markets during the 1st quarter worth about $34,000. Spire Wealth Management purchased a new stake in shares of Robinhood Markets during the 4th quarter worth about $26,000. PNC Financial Services Group Inc. grew its holdings in shares of Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the period. Whittier Trust Co. grew its holdings in shares of Robinhood Markets by 100.0% during the 4th quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock worth $59,000 after purchasing an additional 2,317 shares during the period. Finally, Financial Connections Group Inc. purchased a new stake in shares of Robinhood Markets during the 4th quarter worth about $89,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 16,667 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $17.16, for a total value of $286,005.72. Following the sale, the director now directly owns 36,045 shares of the company’s stock, valued at $618,532.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Baiju Bhatt sold 16,667 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $17.16, for a total value of $286,005.72. Following the completion of the transaction, the director now owns 36,045 shares of the company’s stock, valued at $618,532.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 25,049 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $17.04, for a total value of $426,834.96. Following the completion of the transaction, the chief executive officer now directly owns 32,584 shares of the company’s stock, valued at approximately $555,231.36. The disclosure for this sale can be found here. Insiders have sold 1,244,233 shares of company stock valued at $24,137,641 over the last three months. Company insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HOOD. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a report on Thursday, June 6th. Piper Sandler upped their price target on Robinhood Markets from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Bank of America upgraded Robinhood Markets from an “underperform” rating to a “buy” rating and upped their price target for the stock from $14.00 to $24.00 in a report on Friday, May 17th. Keefe, Bruyette & Woods initiated coverage on Robinhood Markets in a report on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 price target for the company. Finally, Morgan Stanley upped their price target on Robinhood Markets from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.77.

View Our Latest Report on HOOD

Robinhood Markets Trading Down 2.6 %

HOOD stock opened at $22.09 on Tuesday. The firm has a market cap of $19.41 billion, a P/E ratio of 147.27 and a beta of 1.84. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $24.28. The stock’s 50 day simple moving average is $20.70 and its 200 day simple moving average is $16.92.

Robinhood Markets (NASDAQ:HOODGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The firm had revenue of $618.00 million for the quarter, compared to analyst estimates of $552.74 million. During the same period last year, the company earned ($0.57) earnings per share. The firm’s revenue for the quarter was up 40.1% on a year-over-year basis. On average, research analysts forecast that Robinhood Markets, Inc. will post 0.56 EPS for the current fiscal year.

About Robinhood Markets

(Free Report)

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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Institutional Ownership by Quarter for Robinhood Markets (NASDAQ:HOOD)

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