Poinciana Advisors Group LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,697 shares of the company’s stock, valued at approximately $212,000.
Other large investors also recently bought and sold shares of the company. Toronto Dominion Bank lifted its holdings in Robinhood Markets by 31.1% in the third 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. IFP Advisors Inc lifted its holdings in Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after acquiring an additional 3,769 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $634,000. Charles Schwab Investment Management Inc. increased its position in shares of Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after buying an additional 138,267 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its position 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 buying an additional 92,613 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the transaction, the insider now owns 806,955 shares of the company’s stock, valued at $30,268,882.05. This represents a 27.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the transaction, the chief technology officer now directly owns 11,752 shares in the company, valued at approximately $445,635.84. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,985,127 shares of company stock valued at $142,455,378 in the last quarter. Insiders own 19.95% of the company’s stock.
Robinhood Markets Stock Up 8.9 %
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms have recently commented on HOOD. Mizuho boosted their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Needham & Company LLC boosted their price objective on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Citigroup boosted their price objective on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Barclays boosted their price objective on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.31.
Read Our Latest Analysis on Robinhood Markets
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.
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