Pitcairn Co. Takes $222,000 Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Pitcairn Co. bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,954 shares of the company’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets in the fourth quarter worth about $26,000. Creative Financial Designs Inc. ADV increased its holdings in 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 buying an additional 750 shares during the period. Silicon Valley Capital Partners purchased a new position in Robinhood Markets during the 4th quarter worth approximately $37,000. Bogart Wealth LLC acquired a new stake in Robinhood Markets during the 4th quarter valued at approximately $37,000. Finally, Spire Wealth Management boosted its holdings in shares of Robinhood Markets by 104.6% in the 4th 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. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HOOD. 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 report on Thursday, February 13th. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Mizuho upped their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.24.

Robinhood Markets Trading Down 9.8 %

NASDAQ:HOOD opened at $34.51 on Monday. The stock has a 50 day moving average of $48.15 and a two-hundred day moving average of $38.93. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The firm has a market cap of $30.56 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 123,272 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the transaction, the insider now owns 298,826 shares in the company, valued at approximately $16,674,490.80. This represents a 29.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,621,134 shares of company stock valued at $131,646,496 over the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

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.