Vestcor Inc Boosts Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Vestcor Inc grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 43.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,425 shares of the company’s stock after buying an additional 3,164 shares during the period. Vestcor Inc’s holdings in Robinhood Markets were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in HOOD. Toronto Dominion Bank raised its stake in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after acquiring an additional 16,219 shares in the last quarter. IFP Advisors Inc increased its position in Robinhood Markets by 601.1% in the 4th 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 Robinhood Markets during the 4th quarter valued at approximately $634,000. Charles Schwab Investment Management Inc. lifted its position in Robinhood Markets by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after acquiring an additional 138,267 shares during the period. Finally, Atomi Financial Group Inc. lifted its position in Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after acquiring an additional 92,613 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on HOOD. Citigroup upped their price target on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Barclays upped their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. JMP Securities lifted their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Raymond James began coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $61.31.

Robinhood Markets Stock Up 7.1 %

NASDAQ:HOOD opened at $42.02 on Tuesday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The stock has a fifty day simple moving average of $48.87 and a 200-day simple moving average of $36.76. The company has a market capitalization of $37.21 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its 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 net margin of 47.81% and a return on equity of 13.53%. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the completion of the transaction, the insider now owns 822,893 shares in the company, valued at approximately $40,338,214.86. This trade represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,985,127 shares of company stock valued at $142,455,378. 19.95% of the stock is owned by corporate insiders.

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.