Private Advisor Group LLC Cuts Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Private Advisor Group LLC trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 19.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 68,536 shares of the company’s stock after selling 16,241 shares during the period. Private Advisor Group LLC’s holdings in Robinhood Markets were worth $2,554,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets during the 4th quarter worth approximately $26,000. Silicon Valley Capital Partners purchased a new position in Robinhood Markets in the fourth quarter worth $37,000. Bogart Wealth LLC purchased a new position in Robinhood Markets in the fourth quarter worth $37,000. Spire Wealth Management increased its position 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 worth $40,000 after purchasing an additional 549 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Robinhood Markets by 130.7% during the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock valued at $42,000 after purchasing an additional 643 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HOOD shares. Sanford C. Bernstein upped their target price on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Mizuho upped their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley raised their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.53.

Insiders Place Their Bets

In other Robinhood Markets news, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the transaction, the director now directly owns 4,974,238 shares in the company, valued at approximately $199,516,686.18. This represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,520,607 shares of company stock worth $200,784,430. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Trading Down 3.2 %

Shares of HOOD stock opened at $49.93 on Tuesday. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The stock has a market cap of $44.14 billion, a P/E ratio of 31.80, a P/E/G ratio of 1.05 and a beta of 2.13. The stock has a 50 day moving average of $47.55 and a 200 day moving average of $34.26.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate 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, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal 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.