HighTower Advisors LLC Has $1.76 Million Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

HighTower Advisors LLC boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 57.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,232 shares of the company's stock after acquiring an additional 17,264 shares during the period. HighTower Advisors LLC's holdings in Robinhood Markets were worth $1,760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HOOD. FMR LLC raised its position in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company's stock valued at $330,914,000 after purchasing an additional 3,368,118 shares during the period. State Street Corp raised its holdings in 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 lifted its position in Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company's stock worth $271,708,000 after acquiring an additional 1,895,427 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after acquiring an additional 138,267 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Robinhood Markets by 19.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company's stock valued at $179,463,000 after purchasing an additional 739,631 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

HOOD has been the subject of several analyst reports. The Goldman Sachs Group upgraded shares of Robinhood Markets from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Barclays boosted their price target on Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. KeyCorp raised their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Finally, Wolfe Research downgraded Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $61.29.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the transaction, the chief technology officer now directly owns 17,559 shares in the company, valued at approximately $821,936.79. This represents a 25.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 have sold a total of 2,955,655 shares of company stock valued at $143,072,448 in the last 90 days. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Stock Down 1.7 %

Shares of HOOD stock traded down $0.74 on Thursday, reaching $43.99. The company had a trading volume of 51,757,085 shares, compared to its average volume of 21,568,322. The business's 50-day moving average is $49.33 and its 200 day moving average is $37.87. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The stock has a market capitalization of $38.95 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued 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%. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.