Blue Trust Inc. Buys 14,849 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Blue Trust Inc. raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 183.6% in the third quarter, Holdings Channel reports. The firm owned 22,938 shares of the company’s stock after acquiring an additional 14,849 shares during the quarter. Blue Trust Inc.’s holdings in Robinhood Markets were worth $521,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HOOD. ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at approximately $33,000. ORG Partners LLC acquired a new stake in Robinhood Markets in the second quarter valued at $33,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Robinhood Markets during the 1st quarter worth about $34,000. International Assets Investment Management LLC bought a new stake in shares of Robinhood Markets in the 2nd quarter valued at about $40,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Robinhood Markets in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Bank of America boosted their price target on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Morgan Stanley increased their price target on Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Citigroup lifted their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Keefe, Bruyette & Woods dropped their price objective on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $30.00 target price on shares of Robinhood Markets in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $24.97.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $27.41 on Wednesday. The business’s 50 day simple moving average is $22.20 and its 200 day simple moving average is $20.91. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $27.60. The company has a market capitalization of $24.09 billion, a P/E ratio of 182.73 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.05. The company had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. Robinhood Markets’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.76 EPS for the current fiscal year.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 143,944 shares of Robinhood Markets stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,639,654 shares of company stock worth $110,241,632. 19.95% of the stock is currently owned by corporate 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.