Evoke Wealth LLC Invests $264,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Evoke Wealth LLC acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,091 shares of the company's stock, valued at approximately $264,000.

Several other hedge funds and other institutional investors also recently modified their holdings of HOOD. Azora Capital LP purchased a new position in shares of Robinhood Markets during the third quarter valued at about $79,780,000. FMR LLC increased its position in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company's stock valued at $330,914,000 after buying an additional 3,368,118 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Robinhood Markets during the fourth quarter valued at about $90,869,000. Assenagon Asset Management S.A. increased its position in shares of Robinhood Markets by 486.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company's stock valued at $103,906,000 after buying an additional 2,313,213 shares during the period. Finally, TimesSquare Capital Management LLC purchased a new stake in Robinhood Markets in the fourth quarter worth about $71,318,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

Robinhood Markets stock traded up $0.70 during midday trading on Friday, reaching $44.36. 43,555,704 shares of the company traded hands, compared to its average volume of 21,094,221. The firm has a market capitalization of $39.28 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The business has a 50 day moving average of $49.04 and a two-hundred day moving average of $37.28. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91.

Remove Ads

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the transaction, the insider now owns 806,955 shares in the company, 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. Insiders have sold a total of 2,979,251 shares of company stock worth $142,232,560 over the last quarter. Company insiders own 19.95% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. KeyCorp upped their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Needham & Company LLC upped their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Wolfe Research cut shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Mizuho upped their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Finally, Compass Point assumed coverage on shares of Robinhood Markets in a report on Wednesday. They issued a "buy" rating and a $61.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.29.

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.