Dakota Wealth Management Invests $501,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Dakota Wealth Management acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 1st quarter, Holdings Channel.com reports. The fund acquired 12,033 shares of the company’s stock, valued at approximately $501,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Whipplewood Advisors LLC boosted its holdings in shares of Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after acquiring an additional 508 shares during the period. Wayfinding Financial LLC bought a new stake in Robinhood Markets during the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC boosted its position in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Robinhood Markets by 750.0% in 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 during the last quarter. Finally, Colonial Trust Co SC purchased a new stake in Robinhood Markets during the 4th quarter valued at $34,000. Institutional investors own 93.27% of the company’s stock.

Insider Activity

In other news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total value 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. Insiders sold 2,364,145 shares of company stock worth $181,837,741 over the last three months. 14.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in 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 report on Monday. Compass Point upped their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. Redburn Atlantic reiterated a “sell” rating and set a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. The Goldman Sachs Group lifted their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Finally, Morgan Stanley increased their target price on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.29.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $105.45 on Friday. The firm has a market cap of $93.37 billion, a price-to-earnings ratio of 59.92, a P/E/G ratio of 5.26 and a beta of 2.36. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $107.73. The firm’s 50-day simple moving average is $77.63 and its 200 day simple moving average is $57.05.

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 return on equity of 15.42% and a net margin of 48.77%. The firm had revenue of $927.00 million for the quarter, compared to analysts’ expectations of $917.12 million. During the same period in the prior year, the firm earned $0.18 earnings per share. Robinhood Markets’s revenue was up 50.0% compared to the same quarter last year. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS 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.