Berkshire Capital Holdings Inc. Increases Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Berkshire Capital Holdings Inc. boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 3,483,000.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 348,310 shares of the company’s stock after acquiring an additional 348,300 shares during the quarter. Robinhood Markets accounts for approximately 4.7% of Berkshire Capital Holdings Inc.’s investment portfolio, making the stock its 8th biggest holding. Berkshire Capital Holdings Inc.’s holdings in Robinhood Markets were worth $12,978,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Toronto Dominion Bank grew its holdings in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after buying an additional 16,219 shares in the last quarter. IFP Advisors Inc raised its position in shares of Robinhood Markets by 601.1% in the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock worth $164,000 after acquiring an additional 3,769 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Robinhood Markets in the 4th quarter worth approximately $634,000. Charles Schwab Investment Management Inc. increased 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 valued at $175,857,000 after buying an additional 138,267 shares in the last quarter. Finally, Atomi Financial Group Inc. increased 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 valued at $20,154,000 after buying an additional 92,613 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Barclays raised their price target on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft reduced their target price on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Morgan Stanley boosted their target price on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Cantor Fitzgerald initiated coverage on Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price target for the company. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $61.29.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 228,645 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the completion of the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at $203,545.54. This trade represents a 97.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was 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 90 days, insiders have sold 2,985,127 shares of company stock valued at $142,455,378. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 6.7 %

Shares of Robinhood Markets stock opened at $42.80 on Thursday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The company’s 50-day simple moving average is $48.90 and its 200-day simple moving average is $36.94. The firm has a market cap of $37.90 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS 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%. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.