Cetera Investment Advisers Has $3.86 Million Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cetera Investment Advisers boosted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 183.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,551 shares of the company’s stock after purchasing an additional 67,061 shares during the quarter. Cetera Investment Advisers’ holdings in Robinhood Markets were worth $3,858,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of HOOD. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the fourth quarter valued at about $26,000. Creative Financial Designs Inc. ADV lifted its position in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares during the period. Silicon Valley Capital Partners acquired a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $37,000. Bogart Wealth LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $37,000. Finally, Spire Wealth Management increased its position in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after purchasing an additional 549 shares during the period. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HOOD. Compass Point began coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They set a “buy” rating and a $61.00 price target on the stock. Piper Sandler upped their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Cantor Fitzgerald dropped their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Citigroup decreased their price objective on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, Mizuho increased their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $55.41.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 123,272 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the transaction, the insider now directly owns 298,826 shares in the company, valued at approximately $16,674,490.80. This represents a 29.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. Insiders sold 1,947,622 shares of company stock worth $89,994,656 in the last quarter. Insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Down 1.2%

Robinhood Markets stock opened at $60.68 on Friday. The stock has a 50-day simple moving average of $44.76 and a 200 day simple moving average of $43.31. The stock has a market capitalization of $53.73 billion, a price-to-earnings ratio of 38.65, a P/E/G ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The company’s revenue was up 50.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.