Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Mariner LLC

Mariner LLC lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 13.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,099 shares of the company's stock after selling 12,656 shares during the period. Mariner LLC's holdings in Robinhood Markets were worth $3,022,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dorsey & Whitney Trust CO LLC raised its position in shares of Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after buying an additional 233 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock valued at $142,000 after purchasing an additional 277 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after purchasing an additional 549 shares during the period. Allworth Financial LP increased its position in shares of Robinhood Markets by 130.7% during the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company's stock valued at $42,000 after purchasing an additional 643 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets during the 4th quarter valued at $26,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Activity

In related news, Director Baiju Bhatt sold 90,866 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the completion of the transaction, the director now owns 5,042 shares of the company's stock, valued at $279,024.28. This trade represents a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were 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 $36,462,727.20. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,193,327 shares of company stock worth $107,903,039 over the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Trading Up 2.8 %

Shares of NASDAQ:HOOD traded up $1.33 during trading on Friday, reaching $49.48. The stock had a trading volume of 31,408,370 shares, compared to its average volume of 24,791,195. The company has a market capitalization of $43.81 billion, a P/E ratio of 31.46, a PEG ratio of 1.05 and a beta of 2.17. The firm's 50-day simple moving average is $43.71 and its 200 day simple moving average is $40.62. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Piper Sandler raised their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Morgan Stanley downgraded Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 price objective on the stock. in a research report on Tuesday, April 8th. Citigroup lowered their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They set an "overweight" rating and a $69.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $53.88.

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.