Advisory Services Network LLC Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Advisory Services Network LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,754 shares of the company's stock, valued at approximately $252,000.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after buying an additional 26,107,934 shares in the last quarter. Geode Capital Management LLC boosted its position in Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after acquiring an additional 555,299 shares during the period. Renaissance Technologies LLC grew its stake in Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after acquiring an additional 3,091,514 shares in the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets in the 4th quarter valued at about $329,598,000. Finally, GQG Partners LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter worth approximately $302,325,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on HOOD. 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 research note on Friday, February 7th. Compass Point started coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target on the stock. KeyCorp lifted their price objective on Robinhood Markets from $57.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, Morgan Stanley lowered Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 price target for the company. in a report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and an average price target of $55.06.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 223,072 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $41.24, for a total transaction of $9,199,489.28. Following the sale, the director now directly owns 7,863 shares in the company, valued at approximately $324,270.12. The trade was a 96.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $34.51, for a total value of $201,987.03. Following the completion of the transaction, the chief technology officer now directly owns 5,853 shares of the company's stock, valued at approximately $201,987.03. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,784,193 shares of company stock valued at $137,892,219. 19.95% of the stock is owned by company insiders.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD traded up $2.24 during trading hours on Tuesday, hitting $42.09. 36,553,828 shares of the company's stock were exchanged, compared to its average volume of 24,448,425. The company's 50-day moving average price is $44.46 and its 200-day moving average price is $40.42. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The stock has a market capitalization of $37.27 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly 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 return on equity of 13.53% and a net margin of 47.81%. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.