Sequoia Financial Advisors LLC Makes New $226,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Sequoia Financial Advisors LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,056 shares of the company’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. HighTower Advisors LLC raised its stake in Robinhood Markets by 57.6% in the fourth quarter. HighTower Advisors LLC now owns 47,232 shares of the company’s stock valued at $1,760,000 after purchasing an additional 17,264 shares in the last quarter. AGF Management Ltd. bought a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $55,437,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $2,403,000. JW Asset Management LLC bought a new position in Robinhood Markets in the fourth quarter valued at approximately $373,000. Finally, Independent Advisor Alliance acquired a new position in Robinhood Markets during the fourth quarter valued at approximately $268,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the sale, the insider now directly owns 806,955 shares in the company, valued at approximately $30,268,882.05. This trade represents a 27.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were 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 have sold a total of 2,979,251 shares of company stock worth $142,232,560 in the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $43.66 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The company has a 50 day simple moving average of $48.96 and a two-hundred day simple moving average of $36.99. The company has a market capitalization of $38.66 billion, a PE ratio of 27.81, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its 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 47.81% and a return on equity of 13.53%. Research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HOOD shares. Citigroup lifted their price target on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Morgan Stanley boosted their target price on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upgraded 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 note on Friday, December 6th. Needham & Company LLC upped their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Mizuho raised their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

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.