Acumen Wealth Advisors LLC Buys 7,015 Shares of Robinhood Markets, Inc. $HOOD

Acumen Wealth Advisors LLC lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 5,612.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,140 shares of the company’s stock after purchasing an additional 7,015 shares during the period. Acumen Wealth Advisors LLC’s holdings in Robinhood Markets were worth $495,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Truist Financial Corp increased its position in Robinhood Markets by 88.9% during the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after purchasing an additional 68,458 shares during the period. PNC Financial Services Group Inc. raised its stake in Robinhood Markets by 86.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock worth $11,406,000 after buying an additional 46,688 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Robinhood Markets by 26.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company’s stock worth $44,477,000 after buying an additional 76,075 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Robinhood Markets by 196.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock worth $81,755,000 after purchasing an additional 478,919 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Robinhood Markets by 5.2% during the fourth quarter. Nordea Investment Management AB now owns 712,721 shares of the company’s stock worth $81,585,000 after acquiring an additional 35,471 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HOOD shares. Argus upped their price objective on shares of Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Loop Capital set a $110.00 price target on shares of Robinhood Markets in a research report on Wednesday, June 17th. Jefferies Financial Group decreased their price objective on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a report on Monday, April 6th. Barclays increased their price objective on Robinhood Markets from $82.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Morgan Stanley lifted their price objective on Robinhood Markets from $95.00 to $124.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Twenty-one investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.13.

More Robinhood Markets News

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Bernstein raised its price target on HOOD to $160 from $130 and said Robinhood’s prediction markets business could become a major revenue driver, potentially overtaking crypto revenue. Bernstein raises Robinhood price target to $160 as prediction markets revenue could overtake crypto
• Positive Sentiment: Needham & Company also lifted its price target on HOOD to $123 from $97 and maintained a buy rating, reinforcing the view that the stock still has upside from current levels.
• Positive Sentiment: Bloomberg reported that analysts see Robinhood’s prediction market revenue becoming larger than its crypto business, which supports the bullish narrative that HOOD is building new high-growth income streams. Robinhood Prediction Market Revenue to Top Crypto, Analysts Say
• Positive Sentiment: Investor sentiment around crypto-related stocks improved as Bitcoin recovered, helping lift HOOD alongside peers like Circle and Strategy. Circle, Robinhood, Strategy stocks surge on Bitcoin comeback

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total value of $836,800.00. Following the completion of the sale, the insider owned 481,396 shares in the company, valued at approximately $40,283,217.28. This represents a 2.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka acquired 250,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was acquired at an average cost of $80.74 per share, with a total value of $20,185,000.00. Following the purchase, the director owned 3,924,427 shares of the company’s stock, valued at approximately $316,858,235.98. This trade represents a 6.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 680,000 shares of company stock worth $55,306,560 and have sold 587,875 shares worth $62,602,915. 13.48% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Up 7.1%

NASDAQ HOOD opened at $106.36 on Wednesday. The company has a 50-day moving average price of $95.20 and a 200-day moving average price of $88.73. The firm has a market capitalization of $95.78 billion, a P/E ratio of 51.38, a PEG ratio of 2.10 and a beta of 2.33. Robinhood Markets, Inc. has a 52 week low of $63.51 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the business posted $0.37 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.86 EPS for the current year.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.