Rhumbline Advisers Raises Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Rhumbline Advisers lifted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 746,547 shares of the company’s stock after acquiring an additional 15,468 shares during the period. Rhumbline Advisers owned 0.08% of Robinhood Markets worth $27,816,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets in the 4th quarter valued at about $26,000. Silicon Valley Capital Partners bought a new position in shares of Robinhood Markets in the 4th quarter valued at about $37,000. Bogart Wealth LLC bought a new position in shares of Robinhood Markets in the 4th quarter valued at about $37,000. Spire Wealth Management lifted its stake in Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after purchasing an additional 549 shares during the last quarter. Finally, HM Payson & Co. lifted its stake in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Down 2.0 %

Shares of HOOD stock opened at $59.23 on Thursday. The firm has a market cap of $52.36 billion, a price-to-earnings ratio of 37.73, a PEG ratio of 0.80 and a beta of 2.13. The company’s 50 day moving average is $46.85 and its 200 day moving average is $33.40. Robinhood Markets, Inc. has a 52-week low of $13.39 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.96%. Analysts anticipate that Robinhood Markets, Inc. will post 1.3 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the transaction, the insider now directly owns 395,166 shares in the company, valued at $14,834,531.64. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,470,607 shares of company stock valued at $197,745,930 over the last ninety days. 19.95% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HOOD. Sanford C. Bernstein raised their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Raymond James began coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Piper Sandler raised their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday. Finally, Citigroup raised their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.53.

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.