Commonwealth Equity Services LLC Buys 22,508 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Commonwealth Equity Services LLC raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,033 shares of the company's stock after acquiring an additional 22,508 shares during the period. Commonwealth Equity Services LLC's holdings in Robinhood Markets were worth $4,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets in the fourth quarter worth $26,000. True Wealth Design LLC bought a new stake in Robinhood Markets in the 3rd quarter worth about $30,000. Silicon Valley Capital Partners purchased a new position in Robinhood Markets in the 4th quarter worth about $37,000. Bogart Wealth LLC bought a new position in Robinhood Markets during the 4th quarter valued at about $37,000. Finally, Spire Wealth Management boosted its holdings in shares of Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after acquiring an additional 549 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Baiju Bhatt sold 522,180 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares of the company's stock, valued at $316,133.40. This represents a 99.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,955,655 shares of company stock worth $143,072,448 over the last 90 days. Corporate insiders own 19.95% of the company's stock.

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Robinhood Markets Stock Performance

HOOD traded down $3.42 during trading on Wednesday, reaching $44.73. 44,420,004 shares of the company traded hands, compared to its average volume of 21,434,413. The company has a market cap of $39.61 billion, a P/E ratio of 28.49, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The firm has a fifty day simple moving average of $49.33 and a 200 day simple moving average of $37.87.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share 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, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HOOD. JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. KeyCorp lifted their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Mizuho boosted their price objective 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. Needham & Company LLC raised their target price on Robinhood Markets from $52.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Morgan Stanley boosted their price target on Robinhood Markets from $64.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Five equities 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.com, the company currently has an average rating of "Moderate Buy" and an average price target of $61.29.

Robinhood Markets 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.