Wedmont Private Capital Acquires Shares of 9,639 Robinhood Markets, Inc. (NASDAQ:HOOD)

Wedmont Private Capital bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,639 shares of the company’s stock, valued at approximately $386,000.

Several other hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. boosted its stake in Robinhood Markets by 9.6% during the second quarter. Victory Capital Management Inc. now owns 63,337 shares of the company’s stock valued at $1,438,000 after buying an additional 5,534 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Robinhood Markets during the 2nd quarter worth approximately $486,000. DekaBank Deutsche Girozentrale boosted its position in shares of Robinhood Markets by 110.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 49,260 shares of the company’s stock valued at $1,117,000 after acquiring an additional 25,875 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Robinhood Markets by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock valued at $92,549,000 after purchasing an additional 112,967 shares in the last quarter. Finally, Edgestream Partners L.P. increased its position in Robinhood Markets by 1,662.6% in the second quarter. Edgestream Partners L.P. now owns 198,471 shares of the company’s stock worth $4,507,000 after purchasing an additional 187,211 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the sale, the director now owns 4,974,238 shares in the company, valued at approximately $199,516,686.18. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of the stock in a transaction that occurred on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the transaction, the insider now owns 395,166 shares in the company, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,609,792 shares of company stock valued at $136,247,178 over the last three months. 19.95% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HOOD. KeyCorp lifted their price objective on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $20.00 to $43.00 in a research report on Tuesday, January 7th. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $24.00 to $55.00 in a research report on Monday, November 25th. Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, Barclays increased their price target on Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.47.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $45.56 on Thursday. Robinhood Markets, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $46.22. The company has a market capitalization of $40.27 billion, a PE ratio of 77.22, a P/E/G ratio of 0.81 and a beta of 2.07. The company has a 50 day moving average price of $37.63 and a 200-day moving average price of $27.75.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Robinhood Markets’s quarterly revenue was up 36.4% compared to the same quarter last year. On average, analysts forecast that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

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.