BNC Wealth Management LLC Acquires Shares of 36,422 Robinhood Markets, Inc. (NASDAQ:HOOD)

BNC Wealth Management LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,422 shares of the company’s stock, valued at approximately $1,516,000.

A number of other institutional investors also recently bought and sold shares of HOOD. Yousif Capital Management LLC acquired a new position in Robinhood Markets in the fourth quarter valued at $321,000. Choreo LLC acquired a new position in Robinhood Markets in the fourth quarter valued at $288,000. Empowered Funds LLC increased its stake in Robinhood Markets by 279.5% in the fourth quarter. Empowered Funds LLC now owns 33,985 shares of the company’s stock valued at $1,266,000 after purchasing an additional 25,030 shares during the period. Asset Management One Co. Ltd. increased its stake in Robinhood Markets by 0.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 186,232 shares of the company’s stock valued at $7,267,000 after purchasing an additional 1,646 shares during the period. Finally, Bogart Wealth LLC acquired a new position in Robinhood Markets in the fourth quarter valued at $37,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $71.64, for a total transaction of $1,791,000.00. Following the transaction, the insider now directly owns 841,887 shares of the company’s stock, valued at $60,312,784.68. This trade represents a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,650,974 shares of company stock valued at $142,977,123 over the last 90 days. Insiders own 14.47% of the company’s stock.

Analysts Set New Price Targets

HOOD has been the topic of a number of recent research reports. Redburn Atlantic restated a “sell” rating and issued a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Cantor Fitzgerald dropped their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. KeyCorp dropped their price target on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group boosted their price target on shares of Robinhood Markets from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.17.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $72.60 on Friday. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $77.80. The company has a market capitalization of $64.28 billion, a PE ratio of 46.24, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. The firm’s 50-day moving average is $56.22 and its two-hundred day moving average is $48.65.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. On average, analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.