Tulsa Wealth Advisors INC Invests $1.49 Million in Robinhood Markets, Inc. $HOOD

Tulsa Wealth Advisors INC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 13,193 shares of the company’s stock, valued at approximately $1,492,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Truist Financial Corp boosted its holdings in Robinhood Markets by 88.9% in the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock worth $16,455,000 after buying an additional 68,458 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Robinhood Markets by 86.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock valued at $11,406,000 after acquiring an additional 46,688 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Robinhood Markets by 26.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company’s stock valued at $44,477,000 after acquiring an additional 76,075 shares during the last quarter. Capital Wealth Planning LLC lifted its position in shares of Robinhood Markets by 238.5% in the third quarter. Capital Wealth Planning LLC now owns 48,438 shares of the company’s stock valued at $6,935,000 after acquiring an additional 34,129 shares in the last quarter. Finally, Virtus Wealth Solutions LLC acquired a new stake in shares of Robinhood Markets in the third quarter worth approximately $11,074,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Key Headlines Impacting Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Robinhood said its new “AI Trading” feature has already attracted more than 50,000 users in just weeks, with the product helping drive millions of daily interactions and reinforcing the company’s growth narrative. Robinhood Stock Spikes as AI Trading Tops 50,000 Users in Weeks
• Positive Sentiment: Shares have also been supported by record June trading volumes and analyst upgrades/raised price targets after Robinhood announced a 10% workforce reduction, which investors read as a move to improve margins and streamline operations. Stock Market Today, June 17: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
• Positive Sentiment: Momentum traders are also focused on the stock’s technical breakout potential after it outperformed the broader market and moved sharply higher on heavy volume. Stock Of The Day: Will Robinhood Break Out?
• Neutral Sentiment: Commentary on Robinhood’s valuation suggests the stock is expensive, so even with strong growth, expectations are high and any slowdown could make the shares vulnerable. 2 High-Flying Stocks Worth Your Attention and 1 We Question
• Negative Sentiment: Cathie Wood’s ARK has been trimming Robinhood holdings into the rally, which may create some short-term supply pressure and signals that not all big investors are chasing the move. Cathie Wood’s Ark Invest Sells Robinhood Stock Into 8% Rally, Loads Up On Coinbase And Block

Wall Street Analyst Weigh In

HOOD has been the subject of several research reports. Keefe, Bruyette & Woods dropped their price target on Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price objective on Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Citizens Jmp reaffirmed a “market outperform” rating and set a $155.00 target price on shares of Robinhood Markets in a research note on Thursday, May 28th. Jefferies Financial Group dropped their target price on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a report on Monday, April 6th. Finally, Zacks Research upgraded shares of Robinhood Markets from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.36.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $108.15 on Friday. Robinhood Markets, Inc. has a one year low of $63.51 and a one year high of $153.86. The stock has a market cap of $97.39 billion, a PE ratio of 52.25, a P/E/G ratio of 2.54 and a beta of 2.35. The stock has a 50 day moving average price of $83.43 and a 200 day moving average price of $91.48.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. As a group, analysts predict that Robinhood Markets, Inc. will post 1.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.89, for a total transaction of $768,900.00. Following the transaction, the insider owned 432,849 shares of the company’s stock, valued at approximately $33,281,759.61. The trade was a 2.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 10,837 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $85.91, for a total transaction of $931,006.67. Following the completion of the sale, the insider directly owned 81,989 shares of the company’s stock, valued at $7,043,674.99. This represents a 11.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have bought 680,000 shares of company stock worth $55,306,560 and have sold 633,484 shares worth $47,542,923. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.