Kingsview Wealth Management LLC Purchases Shares of 15,965 Robinhood Markets, Inc. (NASDAQ:HOOD)

Kingsview Wealth Management LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,965 shares of the company’s stock, valued at approximately $595,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in HOOD. HM Payson & Co. boosted its holdings in shares of Robinhood Markets by 53.5% in 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. Commerce Bank raised its position in shares of Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after buying an additional 423 shares during the period. Signaturefd LLC raised its position in shares of Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after buying an additional 487 shares during the period. Spire Wealth Management boosted its holdings in Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after acquiring an additional 549 shares during the last quarter. Finally, Castleview Partners LLC grew its position in Robinhood Markets by 18.2% during the third quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after acquiring an additional 582 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

HOOD has been the topic of several research analyst reports. Citigroup lifted their price objective on Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Morgan Stanley lifted their price target on shares of Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. JMP Securities increased their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. Mizuho increased their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.67.

Robinhood Markets Stock Up 4.8 %

Shares of NASDAQ HOOD opened at $55.91 on Thursday. Robinhood Markets, Inc. has a fifty-two week low of $11.43 and a fifty-two week high of $57.27. The business has a 50 day moving average price of $44.48 and a two-hundred day moving average price of $31.90. The firm has a market cap of $49.42 billion, a PE ratio of 94.76, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. On average, analysts anticipate that Robinhood Markets, Inc. will post 0.97 earnings per share for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the transaction, the chief technology officer now owns 11,752 shares of the company’s stock, valued at $445,635.84. This trade represents a 33.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,948,427 shares of company stock valued at $165,005,244 in the last ninety days. Corporate insiders own 19.95% of the company’s stock.

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.