EverSource Wealth Advisors LLC Boosts Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

EverSource Wealth Advisors LLC raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 177.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,407 shares of the company’s stock after purchasing an additional 899 shares during the period. EverSource Wealth Advisors LLC’s holdings in Robinhood Markets were worth $52,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOOD. Victory Capital Management Inc. raised its position in Robinhood Markets by 85.3% in the third quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock valued at $2,749,000 after purchasing an additional 54,046 shares during the period. CIBC Asset Management Inc raised its position in Robinhood Markets by 3.4% in the third quarter. CIBC Asset Management Inc now owns 21,731 shares of the company’s stock valued at $509,000 after purchasing an additional 724 shares during the period. Natixis Advisors LLC raised its position in Robinhood Markets by 44.0% in the third quarter. Natixis Advisors LLC now owns 33,980 shares of the company’s stock valued at $796,000 after purchasing an additional 10,376 shares during the period. Quest Partners LLC raised its position in Robinhood Markets by 1,008.4% in the third quarter. Quest Partners LLC now owns 15,086 shares of the company’s stock valued at $353,000 after purchasing an additional 13,725 shares during the period. Finally, Caprock Group LLC grew its stake in shares of Robinhood Markets by 1.3% in the third quarter. Caprock Group LLC now owns 100,527 shares of the company’s stock valued at $2,354,000 after buying an additional 1,256 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $42.80 on Thursday. The stock has a 50-day simple moving average of $48.90 and a 200-day simple moving average of $36.94. The stock has a market cap of $37.90 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. JMP Securities lifted their price objective on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Piper Sandler lifted their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Finally, Barclays lifted their price objective on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 228,645 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65. Following the completion of the sale, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $203,545.54. The trade was a 97.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the sale, the insider now directly owns 806,955 shares of the company’s stock, valued at $30,268,882.05. The trade was a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,985,127 shares of company stock valued at $142,455,378. 19.95% of the stock is currently 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.