Left Brain Wealth Management LLC Purchases Shares of 10,900 Robinhood Markets, Inc. (NASDAQ:HOOD)

Left Brain Wealth Management LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 10,900 shares of the company’s stock, valued at approximately $406,000.

Several other institutional investors also recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its holdings in Robinhood Markets by 26.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 109,033 shares of the company’s stock valued at $4,063,000 after acquiring an additional 22,508 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in Robinhood Markets by 4.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 108,614 shares of the company’s stock valued at $4,158,000 after acquiring an additional 4,200 shares during the last quarter. Tredje AP fonden raised its holdings in Robinhood Markets by 124.0% in the 4th quarter. Tredje AP fonden now owns 280,000 shares of the company’s stock valued at $10,433,000 after acquiring an additional 155,000 shares during the last quarter. Vestcor Inc grew its stake in shares of Robinhood Markets by 43.6% during the 4th quarter. Vestcor Inc now owns 10,425 shares of the company’s stock valued at $388,000 after buying an additional 3,164 shares during the period. Finally, Rakuten Securities Inc. grew its stake in shares of Robinhood Markets by 752.3% during the 4th quarter. Rakuten Securities Inc. now owns 21,862 shares of the company’s stock valued at $815,000 after buying an additional 19,297 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Mizuho boosted their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Morgan Stanley boosted their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods boosted their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Piper Sandler boosted their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, JMP Securities boosted their price objective on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.31.

Insider Activity

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the sale, the chief technology officer now owns 11,752 shares in the company, valued at approximately $445,635.84. This represents a 33.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,985,127 shares of company stock worth $142,455,378. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $36.02 on Friday. The firm has a 50-day moving average of $48.93 and a two-hundred day moving average of $36.26. The stock has a market cap of $31.89 billion, a P/E ratio of 22.94, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.