NewEdge Wealth LLC Makes New $1.22 Million Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

NewEdge Wealth LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 32,762 shares of the company’s stock, valued at approximately $1,221,000.

A number of other institutional investors have also modified their holdings of HOOD. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets during the fourth quarter valued at approximately $26,000. HM Payson & Co. increased its holdings in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Robinhood Markets during the 3rd quarter valued at approximately $30,000. Silicon Valley Capital Partners bought a new position in Robinhood Markets during the fourth quarter worth $37,000. Finally, Bogart Wealth LLC bought a new position in Robinhood Markets during the fourth quarter worth $37,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Up 2.7 %

Shares of HOOD opened at $50.10 on Friday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The firm has a market capitalization of $44.29 billion, a PE ratio of 31.91, a P/E/G ratio of 1.05 and a beta of 2.13. The firm has a 50-day moving average price of $48.34 and a 200 day moving average price of $34.99.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating 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%. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of research reports. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Piper Sandler increased their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Morgan Stanley lifted their target price on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.53.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 186,514 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the transaction, the director now owns 2,521 shares in the company, valued at approximately $96,125.73. The trade was a 98.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total value of $477,750.00. Following the completion of the transaction, the insider now directly owns 1,106,955 shares in the company, valued at $42,307,820.10. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,624,018 shares of company stock worth $206,917,425. 19.95% of the stock is owned by company insiders.

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.