Van ECK Associates Corp Boosts Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Van ECK Associates Corp lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 134.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,469 shares of the company’s stock after acquiring an additional 86,288 shares during the quarter. Van ECK Associates Corp’s holdings in Robinhood Markets were worth $1,917,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HOOD. Peoples Bank KS bought a new stake in Robinhood Markets in the 3rd quarter worth about $29,000. UniSuper Management Pty Ltd bought a new position in shares of Robinhood Markets in the third quarter valued at approximately $30,000. Whittier Trust Co. increased its position in shares of Robinhood Markets by 100.0% during the fourth quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock valued at $59,000 after acquiring an additional 2,317 shares during the last quarter. Financial Connections Group Inc. bought a new stake in Robinhood Markets during the fourth quarter worth $89,000. Finally, International Assets Investment Management LLC lifted its holdings in Robinhood Markets by 1,174.1% during the fourth quarter. International Assets Investment Management LLC now owns 7,326 shares of the company’s stock worth $93,000 after acquiring an additional 6,751 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HOOD. Mizuho upped their price objective on Robinhood Markets from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Monday. Keefe, Bruyette & Woods started coverage on shares of Robinhood Markets in a research report on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 price objective on the stock. Citigroup cut shares of Robinhood Markets from a “neutral” rating to a “sell” rating and boosted their target price for the company from $13.00 to $16.00 in a research note on Thursday, April 11th. JMP Securities raised their price target on shares of Robinhood Markets from $25.00 to $28.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Robinhood Markets from $12.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, March 19th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.96.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $17.93, for a total value of $4,482,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $17.93, for a total transaction of $4,482,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $12.00, for a total value of $60,000.00. Following the completion of the sale, the chief financial officer now directly owns 916,267 shares of the company’s stock, valued at approximately $10,995,204. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,413,026 shares of company stock valued at $38,927,267. 20.81% of the stock is currently owned by company insiders.

Robinhood Markets Stock Down 0.8 %

HOOD stock opened at $17.85 on Thursday. The stock has a 50-day simple moving average of $17.78 and a two-hundred day simple moving average of $13.37. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $20.55. The firm has a market capitalization of $15.61 billion, a PE ratio of -29.75 and a beta of 1.74.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The company had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $454.73 million. During the same quarter in the previous year, the company earned ($0.19) earnings per share. Robinhood Markets’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 0.29 EPS for the current fiscal year.

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.