Cerity Partners LLC Has $28.26 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cerity Partners LLC lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 607.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 761,887 shares of the company's stock after purchasing an additional 654,258 shares during the period. Cerity Partners LLC owned 0.09% of Robinhood Markets worth $28,258,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of HOOD. FMR LLC grew its position in shares of Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the period. State Street Corp raised its position in shares of Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company's stock valued at $317,536,000 after acquiring an additional 1,085,679 shares during the period. Geode Capital Management LLC raised its holdings in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after purchasing an additional 555,299 shares during the period. Norges Bank bought a new position in Robinhood Markets during the fourth quarter worth about $329,598,000. Finally, GQG Partners LLC bought a new position in shares of Robinhood Markets during the 4th quarter valued at about $302,325,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Up 7.8 %

Shares of HOOD stock traded up $3.17 during trading on Friday, reaching $43.68. 51,213,678 shares of the company's stock were exchanged, compared to its average volume of 23,829,845. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The firm's fifty day moving average price is $46.45 and its 200-day moving average price is $39.62. The stock has a market capitalization of $38.68 billion, a PE ratio of 27.82, a PEG ratio of 1.05 and a beta of 2.17.

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Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data 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%. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HOOD. Raymond James started coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a "market perform" rating for the company. Barclays decreased their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Mizuho raised their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Finally, Needham & Company LLC lowered their price target on shares of Robinhood Markets from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the sale, the insider now owns 706,642 shares of the company's stock, valued at approximately $42,942,634.34. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $45.27, for a total transaction of $4,113,503.82. Following the completion of the transaction, the director now owns 5,042 shares in the company, valued at $228,251.34. This trade represents a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,651,987 shares of company stock worth $132,806,233. 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.