Udine Wealth Management Inc. Grows Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Udine Wealth Management Inc. increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 4.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 81,740 shares of the company’s stock after acquiring an additional 3,293 shares during the period. Robinhood Markets comprises approximately 2.3% of Udine Wealth Management Inc.’s portfolio, making the stock its 11th biggest holding. Udine Wealth Management Inc.’s holdings in Robinhood Markets were worth $3,402,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC grew its position in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after purchasing an additional 508 shares in the last quarter. CoreCap Advisors LLC grew its holdings in 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 buying an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 shares in the last quarter. Colonial Trust Co SC purchased a new position in Robinhood Markets during the 4th quarter valued at approximately $34,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock valued at $36,000 after buying an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 3.3%

HOOD opened at $74.88 on Friday. The business has a fifty day moving average of $52.58 and a 200 day moving average of $47.38. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $77.80. The stock has a market cap of $66.30 billion, a P/E ratio of 47.69, a PEG ratio of 1.05 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data 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). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business had revenue of $927.00 million for the quarter, compared to analysts’ expectations of $917.12 million. During the same quarter in the previous year, the firm earned $0.18 EPS. Robinhood Markets’s revenue was up 50.0% compared to the same quarter last year. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on HOOD. Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $54.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Piper Sandler raised their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised 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. Needham & Company LLC restated a “buy” rating and set a $71.00 price target on shares of Robinhood Markets in a report on Tuesday, May 27th. Finally, Compass Point assumed coverage on Robinhood Markets in a report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price target for the company. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.41.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the sale, the insider now directly owns 228,621 shares of the company’s stock, valued at $16,035,476.94. The trade was a 31.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total value of $957,750.00. Following the sale, the insider now directly owns 822,825 shares of the company’s stock, valued at approximately $31,522,425.75. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,226,771 shares of company stock worth $111,467,774 in the last quarter. 14.47% of the stock is owned by company insiders.

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.