Sei Investments Co. Buys 341,527 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Sei Investments Co. increased its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 109.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 654,345 shares of the company’s stock after buying an additional 341,527 shares during the quarter. Sei Investments Co. owned about 0.07% of Robinhood Markets worth $24,382,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the 4th quarter worth about $26,000. Creative Financial Designs Inc. ADV raised its position in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the period. Silicon Valley Capital Partners bought a new stake in Robinhood Markets in the fourth quarter worth about $37,000. Bogart Wealth LLC purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $37,000. Finally, Spire Wealth Management grew its stake in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after buying an additional 549 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $44.73 on Thursday. The company has a market cap of $39.61 billion, a P/E ratio of 28.49, a PEG ratio of 1.05 and a beta of 2.14. The stock’s 50-day moving average is $49.33 and its 200 day moving average is $37.87. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data 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 net margin of 47.81% and a return on equity of 13.53%. On average, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 47,023 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $46.37, for a total transaction of $2,180,456.51. Following the transaction, the director now owns 5,042 shares in the company, valued at approximately $233,797.54. This trade represents a 90.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,955,655 shares of company stock valued at $143,072,448. 19.95% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HOOD. 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 report on Thursday, February 13th. Morgan Stanley boosted their target price 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. JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Raymond James began coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating for the company. Finally, Compass Point began coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $61.29.

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.