Nkcfo LLC Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Nkcfo LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,000 shares of the company’s stock, valued at approximately $708,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. TD Private Client Wealth LLC lifted its position in shares of Robinhood Markets by 184.4% during the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock valued at $76,000 after purchasing an additional 1,186 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Robinhood Markets during the 1st quarter worth approximately $277,000. Burns Matteson Capital Management LLC purchased a new position in shares of Robinhood Markets in the 1st quarter worth approximately $495,000. Fiduciary Alliance LLC bought a new position in shares of Robinhood Markets in the first quarter valued at approximately $2,177,000. Finally, Invesco Ltd. grew its holdings in shares of Robinhood Markets by 132.6% in the fourth quarter. Invesco Ltd. now owns 2,867,595 shares of the company’s stock valued at $106,847,000 after acquiring an additional 1,634,599 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

HOOD opened at $104.85 on Monday. The firm has a market capitalization of $92.84 billion, a P/E ratio of 59.57, a price-to-earnings-growth ratio of 5.35 and a beta of 2.36. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $113.44. The company has a fifty day moving average price of $82.95 and a 200-day moving average price of $59.97.

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 the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The company’s revenue for the quarter was up 50.0% compared to the same quarter last year. On average, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HOOD shares. Citigroup boosted their price objective on Robinhood Markets from $50.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, July 7th. Redburn Atlantic restated a “sell” rating and set a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Barclays increased their target price on shares of Robinhood Markets from $57.00 to $102.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Morgan Stanley lifted their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $85.29.

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $93.88, for a total transaction of $2,347,000.00. Following the transaction, the insider directly owned 816,887 shares of the company’s stock, valued at approximately $76,689,351.56. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 385,485 shares of the business’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total value of $39,280,921.50. The disclosure for this sale can be found here. Insiders have sold 2,602,488 shares of company stock worth $213,925,690 in the last ninety days. 19.95% of the stock is currently owned by insiders.

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.