SVB Wealth LLC Purchases Shares of 24,382 Robinhood Markets, Inc. (NASDAQ:HOOD)

SVB Wealth LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,382 shares of the company’s stock, valued at approximately $908,000.

A number of other institutional investors have also modified their holdings of HOOD. Toronto Dominion Bank boosted its holdings in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after acquiring an additional 16,219 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $634,000. Atomi Financial Group Inc. grew its holdings in shares of Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after purchasing an additional 92,613 shares in the last quarter. Requisite Capital Management LLC purchased a new stake in Robinhood Markets during the 4th quarter worth approximately $266,000. Finally, Baker Avenue Asset Management LP boosted its position in Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after buying an additional 203,354 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

HOOD opened at $46.89 on Tuesday. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The stock has a market capitalization of $41.52 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. The business’s 50-day simple moving average is $48.53 and its 200-day simple moving average is $35.30.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity

In other Robinhood Markets news, Director Meyer Malka sold 64,951 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $49.64, for a total transaction of $3,224,167.64. Following the completion of the sale, the director now directly owns 3,235,585 shares of the company’s stock, valued at $160,614,439.40. This represents a 1.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the transaction, the insider now owns 806,955 shares in the company, valued at $30,268,882.05. This trade represents a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,676,469 shares of company stock valued at $209,663,843 in the last ninety days. 19.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JMP Securities upped their price objective on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Needham & Company LLC upped their price target on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating for the company. Finally, KeyCorp increased their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.53.

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.