Annex Advisory Services LLC Boosts Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Annex Advisory Services LLC raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 26.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 734,454 shares of the company’s stock after purchasing an additional 151,585 shares during the quarter. Annex Advisory Services LLC’s holdings in Robinhood Markets were worth $30,568,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Whipplewood Advisors LLC boosted its holdings in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after acquiring an additional 508 shares during the last quarter. CoreCap Advisors LLC raised its holdings 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 during the period. Creative Financial Designs Inc. ADV raised its holdings in shares of 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 purchasing an additional 750 shares during the period. Colonial Trust Co SC acquired a new position in Robinhood Markets during the fourth quarter valued at approximately $34,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock worth $36,000 after purchasing an additional 498 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Up 0.8%

Shares of Robinhood Markets stock opened at $72.27 on Thursday. The stock has a market cap of $63.99 billion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $74.16. The business has a fifty day simple moving average of $51.30 and a 200-day simple moving average of $46.85.

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

Analyst Ratings Changes

A number of research firms recently weighed in on HOOD. Cantor Fitzgerald lowered their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Mizuho raised their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Citigroup cut their price target on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Needham & Company LLC restated a “buy” rating and set a $71.00 price objective on shares of Robinhood Markets in a research note on Tuesday, May 27th. Finally, Raymond James started coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $55.41.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 418,338 shares of the firm’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 now directly owns 7,863 shares in the company, valued at approximately $506,848.98. This trade represents a 98.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Insiders sold 2,096,884 shares of company stock valued at $102,320,000 in the last three months. Corporate insiders own 14.47% of the company’s stock.

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.