Requisite Capital Management LLC Acquires 12,029 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Requisite Capital Management LLC grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 168.2% in the first quarter, Holdings Channel reports. The firm owned 19,179 shares of the company’s stock after buying an additional 12,029 shares during the quarter. Requisite Capital Management LLC’s holdings in Robinhood Markets were worth $798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of HOOD. IFP Advisors Inc grew its holdings in shares of Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock worth $164,000 after acquiring an additional 3,769 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after acquiring an additional 138,267 shares during the period. Aigen Investment Management LP grew its holdings in shares of Robinhood Markets by 161.2% in the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company’s stock worth $3,199,000 after acquiring an additional 52,988 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Robinhood Markets by 19.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock worth $179,463,000 after acquiring an additional 739,631 shares during the period. Finally, Allegiance Financial Group Advisory Services LLC bought a new stake in shares of Robinhood Markets in the fourth quarter worth $207,000. Institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the business’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 sale, the chief technology officer now directly owns 20,636 shares in the company, valued at approximately $1,516,539.64. The trade was a 22.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $71.64, for a total value of $1,791,000.00. Following the completion of the sale, the insider now owns 841,887 shares in the company, valued at $60,312,784.68. This represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,232,636 shares of company stock worth $111,898,793. Corporate insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Down 2.0%

Shares of Robinhood Markets stock opened at $73.40 on Tuesday. The stock’s 50-day simple moving average is $53.19 and its 200-day simple moving average is $47.80. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $77.80. The company has a market capitalization of $64.99 billion, a price-to-earnings ratio of 46.75, a PEG ratio of 1.05 and a beta of 2.25.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on HOOD shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. JPMorgan Chase & Co. boosted their price target on Robinhood Markets from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. The Goldman Sachs Group boosted their price target on Robinhood Markets from $56.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a report on Monday. One 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.17.

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.