6,028 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Bought by Modern Wealth Management LLC

Modern Wealth Management LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,028 shares of the company's stock, valued at approximately $225,000.

Other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank raised its holdings in Robinhood Markets by 31.1% in the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company's stock worth $1,602,000 after acquiring an additional 16,219 shares during the period. IFP Advisors Inc grew its position in shares of Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock valued at $164,000 after purchasing an additional 3,769 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Robinhood Markets during the 4th quarter worth about $634,000. Charles Schwab Investment Management Inc. boosted its stake in Robinhood Markets by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock valued at $175,857,000 after purchasing an additional 138,267 shares during the period. Finally, Atomi Financial Group Inc. grew its holdings in Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock valued at $20,154,000 after buying an additional 92,613 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 228,645 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $203,545.54. The trade was a 97.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred 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. In the last 90 days, insiders sold 2,955,655 shares of company stock worth $143,072,448. Insiders own 19.95% of the company's stock.

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Robinhood Markets Stock Up 1.3 %

HOOD stock traded up $0.54 during midday trading on Tuesday, reaching $42.16. The stock had a trading volume of 42,755,354 shares, compared to its average volume of 22,001,154. The firm has a market cap of $37.33 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The business has a fifty day simple moving average of $48.88 and a two-hundred day simple moving average of $38.60.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 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%. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JMP Securities lifted their price target on Robinhood Markets from $60.00 to $77.00 and gave the stock a "market outperform" rating in a research report on Thursday, February 13th. Barclays upped their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Compass Point assumed coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective on the stock. Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Finally, Morgan Stanley increased their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $60.82.

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.