Proficio Capital Partners LLC Buys Shares of 63,528 Robinhood Markets, Inc. (NASDAQ:HOOD)

Proficio Capital Partners LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,528 shares of the company’s stock, valued at approximately $2,367,000.

A number of other large investors also recently modified their holdings of the company. Toronto Dominion Bank lifted its stake in Robinhood Markets by 31.1% in the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after purchasing an additional 16,219 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock worth $164,000 after purchasing an additional 3,769 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Robinhood Markets in the fourth quarter worth $634,000. Charles Schwab Investment Management Inc. boosted its stake in Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after buying an additional 138,267 shares during the period. Finally, Atomi Financial Group Inc. grew its position in Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after buying an additional 92,613 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $40.10 on Wednesday. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The firm has a market cap of $35.51 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The business has a 50 day moving average price of $48.86 and a 200-day moving average price of $36.90.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share 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 13.53%. Research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

HOOD has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. JMP Securities lifted their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. KeyCorp increased their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They set an “overweight” rating and a $69.00 price objective for the company. Finally, Barclays increased their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.31.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 228,645 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.37, for a total value of $9,230,398.65. Following the completion of the sale, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $203,545.54. This trade represents a 97.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the transaction, the chief technology officer now owns 17,559 shares in the company, valued at $821,936.79. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,985,127 shares of company stock valued at $142,455,378 over the last ninety days. 19.95% of the stock is owned by insiders.

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.