Evolution Wealth Advisors LLC Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Evolution Wealth Advisors LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,506 shares of the company’s stock, valued at approximately $242,000.

A number of other institutional investors also recently bought and sold shares of HOOD. Allspring Global Investments Holdings LLC raised its position in Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after buying an additional 3,817,355 shares during the last quarter. Azora Capital LP purchased a new position in Robinhood Markets during the 3rd quarter worth approximately $79,780,000. FMR LLC raised its position in Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after buying an additional 3,368,118 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Robinhood Markets by 486.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock worth $103,906,000 after buying an additional 2,313,213 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after purchasing an additional 1,895,427 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 108,964 shares of Robinhood Markets stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $24.92, for a total transaction of $2,715,382.88. Following the transaction, the director now owns 2,521 shares in the company, valued at $62,823.32. The trade was a 97.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, November 4th. The stock was sold at an average price of $24.21, for a total value of $6,052,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,700,658 shares of company stock valued at $140,360,682 in the last 90 days. 19.95% of the stock is owned by insiders.

Robinhood Markets Stock Up 0.3 %

Shares of HOOD opened at $50.16 on Thursday. Robinhood Markets, Inc. has a 52-week low of $10.51 and a 52-week high of $51.09. The firm’s fifty day moving average is $39.64 and its two-hundred day moving average is $28.77. The stock has a market cap of $44.34 billion, a PE ratio of 85.02, a price-to-earnings-growth ratio of 0.67 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period last year, the firm earned ($0.09) EPS. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 0.97 earnings per share for the current year.

Analysts Set New Price Targets

HOOD has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Barclays raised their price objective on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Morgan Stanley raised their price objective on shares of Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. KeyCorp raised their price objective on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $43.07.

About Robinhood Markets

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.