SeaCrest Wealth Management LLC Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

SeaCrest Wealth Management LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,810 shares of the company’s stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds have also modified their holdings of HOOD. Allspring Global Investments Holdings LLC boosted its holdings in Robinhood Markets by 1,211,858.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after buying an additional 3,817,355 shares during the last quarter. Azora Capital LP purchased a new position in shares of Robinhood Markets in the third quarter valued at approximately $79,780,000. FMR LLC boosted its stake in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after acquiring an additional 3,368,118 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after purchasing an additional 1,895,427 shares in the last quarter. Finally, Sparta 24 Ltd. raised its stake in Robinhood Markets by 905.8% in the 3rd quarter. Sparta 24 Ltd. now owns 1,625,158 shares of the company’s stock valued at $38,061,000 after purchasing an additional 1,463,578 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $24.21, for a total value of $6,052,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $45.27, for a total transaction of $4,113,503.82. Following the sale, the director now owns 5,042 shares in the company, valued at approximately $228,251.34. This trade represents a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,700,658 shares of company stock valued at $140,360,682. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Shares of HOOD opened at $48.15 on Friday. The firm has a 50-day simple moving average of $38.28 and a two-hundred day simple moving average of $28.00. Robinhood Markets, Inc. has a 1-year low of $10.38 and a 1-year high of $49.27. The stock has a market cap of $42.56 billion, a PE ratio of 81.61, a P/E/G ratio of 0.58 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. During the same period in the previous year, the firm earned ($0.09) EPS. The firm’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JMP Securities lifted their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 12th. Piper Sandler upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $20.00 to $43.00 in a research report on Tuesday, January 7th. Three 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, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $43.07.

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.