Laidlaw Wealth Management LLC Acquires New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Laidlaw Wealth Management LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 28,516 shares of the company's stock, valued at approximately $1,063,000.

Several other hedge funds and other institutional investors also recently modified their holdings of HOOD. Creative Planning increased its stake in Robinhood Markets by 34.6% in the third quarter. Creative Planning now owns 35,384 shares of the company's stock valued at $829,000 after acquiring an additional 9,094 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Robinhood Markets by 32.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 28,125 shares of the company's stock worth $659,000 after purchasing an additional 6,872 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Robinhood Markets by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 22,938 shares of the company's stock worth $521,000 after purchasing an additional 14,849 shares in the last quarter. Raymond James & Associates increased its position in shares of Robinhood Markets by 76.6% during the 3rd quarter. Raymond James & Associates now owns 99,278 shares of the company's stock valued at $2,325,000 after purchasing an additional 43,075 shares during the last quarter. Finally, Castleview Partners LLC raised its holdings in shares of Robinhood Markets by 18.2% during the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company's stock valued at $89,000 after buying an additional 582 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

NASDAQ:HOOD traded down $4.46 during trading hours on Friday, hitting $51.60. The company had a trading volume of 33,522,577 shares, compared to its average volume of 25,542,662. The stock has a 50-day moving average price of $47.42 and a 200 day moving average price of $33.80. The company has a market capitalization of $45.61 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 1.11 and a beta of 2.13. Robinhood Markets, Inc. has a 52 week low of $13.59 and a 52 week high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping 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%. Analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HOOD has been the subject of several research reports. Piper Sandler upped their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Citigroup increased their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Barclays lifted their target price 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. Needham & Company LLC raised their price objective on Robinhood Markets from $52.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Morgan Stanley lifted their price objective on Robinhood Markets from $64.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus price target of $59.53.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Meyer Malka sold 1,535,681 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction 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. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,520,607 shares of company stock valued at $200,784,430. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Company 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.