Wedmont Private Capital Grows Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Wedmont Private Capital boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 28.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,424 shares of the company’s stock after acquiring an additional 2,785 shares during the quarter. Wedmont Private Capital’s holdings in Robinhood Markets were worth $543,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC raised its position in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after acquiring an additional 508 shares in the last quarter. CoreCap Advisors LLC grew its holdings in 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 last quarter. Creative Financial Designs Inc. ADV grew its holdings in 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 during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock valued at $36,000 after purchasing an additional 498 shares during the last quarter. Finally, Colonial Trust Co SC acquired a new stake in Robinhood Markets in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Down 1.2%

NASDAQ HOOD opened at $72.51 on Wednesday. The business’s 50-day moving average price is $53.87 and its 200 day moving average price is $47.97. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $77.80. The company has a market capitalization of $64.20 billion, a PE ratio of 46.19, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to analysts’ expectations of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business’s revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 earnings per share. Equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $38.31, for a total value of $957,750.00. Following the transaction, the insider now directly owns 822,825 shares in the company, valued at $31,522,425.75. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $73.49, for a total value of $431,018.85. Following the completion of the transaction, the chief technology officer now owns 20,636 shares in the company, valued at approximately $1,516,539.64. This trade represents a 22.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,232,636 shares of company stock worth $111,898,793 in the last three months. 14.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on HOOD shares. Needham & Company LLC reissued a “buy” rating and issued a $71.00 target price on shares of Robinhood Markets in a report on Tuesday, May 27th. Compass Point started coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 target price on the stock. Cantor Fitzgerald lowered their target price on Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Piper Sandler upped their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, KeyCorp reduced their price objective on Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.17.

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.