Steward Partners Investment Advisory LLC Grows Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Steward Partners Investment Advisory LLC increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 43.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,028 shares of the company’s stock after acquiring an additional 4,228 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Robinhood Markets were worth $523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Meridian Wealth Management LLC acquired a new position in Robinhood Markets during the fourth quarter worth $6,168,000. Plato Investment Management Ltd grew its holdings in Robinhood Markets by 238.7% during the fourth quarter. Plato Investment Management Ltd now owns 17,672 shares of the company’s stock worth $661,000 after acquiring an additional 12,454 shares during the period. SBI Securities Co. Ltd. acquired a new position in Robinhood Markets during the fourth quarter worth $1,374,000. Jones Financial Companies Lllp grew its holdings in Robinhood Markets by 1,631.5% during the fourth quarter. Jones Financial Companies Lllp now owns 3,463 shares of the company’s stock worth $129,000 after acquiring an additional 3,263 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Robinhood Markets by 157.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,697 shares of the company’s stock worth $103,000 after acquiring an additional 1,649 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HOOD. KeyCorp upped their target price on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods upped their target price on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Barclays upped their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the company from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Needham & Company LLC upped their price objective on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.31.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $38.92 on Thursday. The stock’s 50-day moving average is $49.00 and its 200-day moving average is $36.26. The company has a market cap of $34.46 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00 % 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, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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. Over the last quarter, insiders sold 2,985,127 shares of company stock worth $142,455,378. 19.95% of the stock is currently owned by corporate insiders.

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.