6,476 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Bought by Ballentine Partners LLC

Ballentine Partners LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,476 shares of the company’s stock, valued at approximately $270,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC raised its stake in Robinhood Markets by 564.4% during the 1st 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. Wayfinding Financial LLC acquired a new stake in Robinhood Markets during the 1st quarter worth $30,000. CoreCap Advisors LLC raised its stake in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after acquiring an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares in the last quarter. Finally, Colonial Trust Co SC acquired a new stake in Robinhood Markets during the 4th quarter worth $34,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Trading Up 3.7%

HOOD stock opened at $103.25 on Thursday. The company has a market cap of $91.42 billion, a P/E ratio of 58.67, a P/E/G ratio of 5.14 and a beta of 2.36. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $104.62. The company’s 50-day moving average price is $76.60 and its 200 day moving average price is $56.58.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The business’s revenue was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. JMP Securities lifted their price objective on shares of Robinhood Markets from $70.00 to $125.00 and gave the company a “market outperform” rating in a research note on Monday. Citigroup lifted their price objective on shares of Robinhood Markets from $50.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, July 7th. Compass Point lifted their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, June 27th. 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 note on Tuesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.29.

Insiders Place Their Bets

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the transaction, the director owned 7,863 shares of the company’s stock, valued at approximately $506,848.98. The trade was a 98.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,364,145 shares of company stock worth $181,837,741. Insiders own 14.47% of the company’s stock.

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.