Wedmont Private Capital Purchases New Shares in Robinhood Markets, Inc. (NASDAQ:HOOD)

Wedmont Private Capital bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 9,639 shares of the company's stock, valued at approximately $386,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. lifted its position in shares of Robinhood Markets by 9.6% in the 2nd quarter. Victory Capital Management Inc. now owns 63,337 shares of the company's stock worth $1,438,000 after purchasing an additional 5,534 shares during the period. American Century Companies Inc. purchased a new stake in Robinhood Markets during the second quarter worth $486,000. DekaBank Deutsche Girozentrale boosted its position in Robinhood Markets by 110.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 49,260 shares of the company's stock valued at $1,117,000 after acquiring an additional 25,875 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Robinhood Markets by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company's stock valued at $92,549,000 after acquiring an additional 112,967 shares during the period. Finally, Edgestream Partners L.P. raised its position in shares of Robinhood Markets by 1,662.6% in the 2nd quarter. Edgestream Partners L.P. now owns 198,471 shares of the company's stock worth $4,507,000 after acquiring an additional 187,211 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JMP Securities lifted their target price on Robinhood Markets from $33.00 to $40.00 and gave the company a "market outperform" rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a "neutral" rating to a "buy" rating and raised their target price for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Keefe, Bruyette & Woods raised their price objective on Robinhood Markets from $24.00 to $38.00 and gave the stock a "market perform" rating in a research report on Friday, December 20th. Finally, KeyCorp upped their target price on Robinhood Markets from $30.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.47.

Robinhood Markets Trading Up 1.1 %

Shares of HOOD stock traded up $0.52 during trading hours on Thursday, hitting $46.08. The company's stock had a trading volume of 18,556,134 shares, compared to its average volume of 20,391,467. The stock has a market cap of $40.73 billion, a PE ratio of 78.10, a price-to-earnings-growth ratio of 0.58 and a beta of 2.07. Robinhood Markets, Inc. has a 12-month low of $10.38 and a 12-month high of $46.85. The company has a 50 day moving average of $37.95 and a 200 day moving average of $27.87.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $637.00 million during the quarter, compared to analysts' expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets's revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.09) earnings per share. As a group, analysts anticipate that Robinhood Markets, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.64, for a total value of $250,552.64. Following the sale, the chief technology officer now owns 5,876 shares in the company, valued at $250,552.64. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,609,792 shares of company stock valued at $136,247,178 over the last ninety days. Company insiders own 19.95% of the company's stock.

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.