Independent Advisor Alliance Acquires Shares of 7,193 Robinhood Markets, Inc. (NASDAQ:HOOD)

Independent Advisor Alliance purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,193 shares of the company's stock, valued at approximately $268,000.

Other large investors have also made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets during the fourth quarter worth $26,000. True Wealth Design LLC acquired a new position in shares of Robinhood Markets during the third quarter worth $30,000. Silicon Valley Capital Partners acquired a new position in shares of Robinhood Markets during the fourth quarter worth $37,000. Bogart Wealth LLC acquired a new position in shares of Robinhood Markets during the fourth quarter worth $37,000. Finally, Spire Wealth Management increased its position in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after purchasing an additional 549 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of Robinhood Markets from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $40.00 to $46.00 in a report on Friday, December 6th. Needham & Company LLC boosted their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Citigroup boosted their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Finally, Compass Point began coverage on shares of Robinhood Markets in a report on Wednesday. They set a "buy" rating and a $61.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and an average price target of $61.29.

Remove Ads

Robinhood Markets Stock Up 1.6 %

Shares of HOOD stock traded up $0.70 during mid-day trading on Friday, hitting $44.36. 43,555,704 shares of the stock were exchanged, compared to its average volume of 21,094,221. The firm has a fifty day moving average of $49.04 and a 200 day moving average of $37.28. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The company has a market cap of $39.28 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

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

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the transaction, the chief technology officer now owns 17,559 shares in the company, valued at $821,936.79. This represents a 25.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the transaction, the insider now owns 706,642 shares of the company's stock, valued at approximately $36,462,727.20. This trade represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,979,251 shares of company stock worth $142,232,560 in the last 90 days. Insiders own 19.95% of the company's stock.

About Robinhood Markets

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.