Allworth Financial LP Grows Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Allworth Financial LP boosted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 130.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,135 shares of the company’s stock after buying an additional 643 shares during the quarter. Allworth Financial LP’s holdings in Robinhood Markets were worth $42,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets during the fourth quarter worth $26,000. Silicon Valley Capital Partners bought a new position in Robinhood Markets in the fourth quarter worth approximately $37,000. Bogart Wealth LLC bought a new stake in Robinhood Markets during the fourth quarter valued at about $37,000. Spire Wealth Management raised its stake in shares of Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after acquiring an additional 549 shares in the last quarter. Finally, HM Payson & Co. lifted its holdings in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JMP Securities increased their price target on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Needham & Company LLC raised their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Sanford C. Bernstein lifted their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.53.

Insider Buying and Selling

In related news, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the sale, the director now directly owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. This represents a 23.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Quirk sold 123,272 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the completion of the sale, the insider now owns 298,826 shares of the company’s stock, valued at approximately $16,674,490.80. This trade represents a 29.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,643,879 shares of company stock worth $207,663,007. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Trading Down 8.0 %

Shares of HOOD opened at $45.92 on Wednesday. The firm has a market cap of $40.59 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. The company’s 50-day moving average price is $47.64 and its 200 day moving average price is $34.46. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91.

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

Robinhood Markets Company 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.