Udine Wealth Management Inc. Buys 32,357 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Udine Wealth Management Inc. lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 70.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,447 shares of the company’s stock after purchasing an additional 32,357 shares during the quarter. Robinhood Markets comprises 1.9% of Udine Wealth Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Udine Wealth Management Inc.’s holdings in Robinhood Markets were worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after buying an additional 3,817,355 shares during the period. Azora Capital LP bought a new stake in shares of Robinhood Markets during the third quarter valued at approximately $79,780,000. FMR LLC raised its position in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Robinhood Markets by 486.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock worth $103,906,000 after purchasing an additional 2,313,213 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares during the period. Institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HOOD shares. Sanford C. Bernstein raised their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Morgan Stanley boosted their price objective on Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday. JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their target price for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. Finally, KeyCorp upped their price target on Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.07.

Robinhood Markets Stock Up 4.5 %

NASDAQ:HOOD opened at $48.15 on Friday. Robinhood Markets, Inc. has a twelve month low of $10.38 and a twelve month high of $49.27. The stock has a market cap of $42.56 billion, a P/E ratio of 81.61, a PEG ratio of 0.58 and a beta of 2.07. The business’s 50-day moving average price is $38.63 and its two-hundred day moving average price is $28.22.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. The business’s revenue was up 36.4% on a year-over-year basis. On average, equities research analysts expect that Robinhood Markets, Inc. will post 0.91 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction that occurred 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 owns 395,166 shares of the company’s stock, valued at $14,834,531.64. This represents a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $24.21, for a total value of $6,052,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,700,658 shares of company stock worth $140,360,682. Company insiders own 19.95% of the company’s stock.

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.