Masso Torrence Wealth Management Inc. Makes New $264,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Masso Torrence Wealth Management Inc. bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,090 shares of the company's stock, valued at approximately $264,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. HM Payson & Co. increased its holdings in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company's stock valued at $28,000 after purchasing an additional 410 shares during the period. Eastern Bank purchased a new position in Robinhood Markets in the 3rd quarter valued at $30,000. True Wealth Design LLC acquired a new position in Robinhood Markets in the 3rd quarter valued at $30,000. ORG Wealth Partners LLC purchased a new position in Robinhood Markets during the 3rd quarter worth $33,000. Finally, Connective Portfolio Management LLC acquired a new stake in shares of Robinhood Markets in the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Transactions at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $47.82, for a total transaction of $280,990.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meyer Malka sold 1,535,681 shares of Robinhood Markets stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the sale, the director now directly owns 4,974,238 shares in the company, valued at $199,516,686.18. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,297,400 shares of company stock worth $170,630,852 in the last ninety days. Insiders own 19.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HOOD shares. JMP Securities boosted their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a "market outperform" rating in a research note on Tuesday, November 12th. KeyCorp increased their target price on Robinhood Markets from $30.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Needham & Company LLC restated a "buy" rating and issued a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Piper Sandler increased their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock an "overweight" rating in a research report on Monday, December 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a "market perform" rating in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $43.07.

Robinhood Markets Trading Up 3.5 %

Shares of Robinhood Markets stock traded up $1.75 during trading hours on Wednesday, reaching $51.15. 17,685,724 shares of the company's stock were exchanged, compared to its average volume of 21,721,932. The company has a fifty day moving average of $40.92 and a 200-day moving average of $29.59. Robinhood Markets, Inc. has a 52-week low of $10.51 and a 52-week high of $52.06. The firm has a market capitalization of $45.22 billion, a price-to-earnings ratio of 86.70, a price-to-earnings-growth ratio of 0.67 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to analysts' expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets's revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 0.97 earnings per share for the current fiscal year.

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.