Wealthfront Advisers LLC Decreases Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Wealthfront Advisers LLC reduced its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 37.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,814 shares of the company’s stock after selling 7,590 shares during the period. Wealthfront Advisers LLC’s holdings in Robinhood Markets were worth $477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets in the 4th quarter worth about $26,000. Silicon Valley Capital Partners purchased a new stake in Robinhood Markets in the 4th quarter worth about $37,000. Bogart Wealth LLC purchased a new stake in Robinhood Markets in the 4th quarter worth about $37,000. Spire Wealth Management raised its position in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after purchasing an additional 549 shares during the period. Finally, Allworth Financial LP raised its position in Robinhood Markets by 130.7% in the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock worth $42,000 after purchasing an additional 643 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction on Friday, December 20th. The shares were sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the sale, the chief technology officer now directly owns 11,752 shares in the company, valued at approximately $445,635.84. The trade was a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,985,127 shares of company stock worth $142,455,378 over the last three months. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 8.9 %

Shares of HOOD opened at $39.24 on Monday. The company has a market cap of $34.75 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The company has a 50 day moving average of $48.88 and a two-hundred day moving average of $36.61.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their target price for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Morgan Stanley raised their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Barclays raised their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Raymond James started coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating on the stock. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $61.31.

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.