Focus Partners Advisor Solutions LLC Buys Shares of 7,692 Robinhood Markets, Inc. (NASDAQ:HOOD)

Focus Partners Advisor Solutions LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,692 shares of the company’s stock, valued at approximately $287,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MetLife Investment Management LLC increased its stake in shares of Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock valued at $440,000 after acquiring an additional 171 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after acquiring an additional 233 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after acquiring an additional 277 shares during the last quarter. Spire Wealth Management increased its stake in shares of Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after acquiring an additional 549 shares during the last quarter. Finally, CoreCap Advisors LLC increased its stake in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 7,863 shares in the company, valued at approximately $506,848.98. This represents a 98.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 64,951 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $49.64, for a total value of $3,224,167.64. Following the transaction, the director now owns 3,235,585 shares of the company’s stock, valued at approximately $160,614,439.40. This trade represents a 1.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,192,688 shares of company stock worth $107,043,646. 14.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HOOD. Raymond James began coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating for the company. Compass Point initiated coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 target price for the company. Citigroup dropped their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. increased their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Finally, Morgan Stanley increased their target price on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.41.

Robinhood Markets Stock Down 2.5%

Shares of NASDAQ:HOOD opened at $63.17 on Monday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The company has a 50 day moving average of $47.76 and a two-hundred day moving average of $45.11. The company has a market capitalization of $55.93 billion, a price-to-earnings ratio of 40.24, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results 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 for 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%. The business’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Robinhood Markets 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.