Masso Torrence Wealth Management Inc. Makes New $264,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Masso Torrence Wealth Management Inc. purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,090 shares of the company’s stock, valued at approximately $264,000.

A number of other institutional investors also recently modified their holdings of the business. American Century Companies Inc. acquired a new stake in Robinhood Markets in the second quarter valued at about $486,000. Sei Investments Co. lifted its holdings in shares of Robinhood Markets by 64.1% in the second quarter. Sei Investments Co. now owns 61,754 shares of the company’s stock worth $1,402,000 after acquiring an additional 24,129 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Robinhood Markets by 25.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 68,840 shares of the company’s stock valued at $1,563,000 after purchasing an additional 13,944 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Robinhood Markets by 34.7% during the 2nd quarter. Toronto Dominion Bank now owns 52,189 shares of the company’s stock valued at $1,185,000 after purchasing an additional 13,441 shares during the last quarter. Finally, MBB Public Markets I LLC acquired a new position in Robinhood Markets during the 2nd quarter worth approximately $809,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Sanford C. Bernstein raised their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Barclays boosted their price objective on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Morgan Stanley increased their target price on Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Needham & Company LLC restated a “buy” rating and set a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.07.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 108,964 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $24.92, for a total value of $2,715,382.88. Following the transaction, the director now directly owns 2,521 shares of the company’s stock, valued at approximately $62,823.32. This trade represents a 97.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, November 4th. The shares were 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 4,291,524 shares of company stock worth $170,349,862 in the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Down 0.3 %

HOOD opened at $49.26 on Wednesday. Robinhood Markets, Inc. has a twelve month low of $10.51 and a twelve month high of $52.06. The company has a fifty day moving average of $40.92 and a 200-day moving average of $29.59. The stock has a market cap of $43.55 billion, a PE ratio of 82.65, a price-to-earnings-growth ratio of 0.67 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the business posted ($0.09) earnings per share. The business’s revenue was up 36.4% on a year-over-year basis. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.97 EPS for the current fiscal 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.