Sterling Capital Management LLC Grows Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Sterling Capital Management LLC increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 56.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 39,925 shares of the company's stock after acquiring an additional 14,362 shares during the period. Sterling Capital Management LLC's holdings in Robinhood Markets were worth $1,488,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets in the fourth quarter worth about $26,000. Creative Financial Designs Inc. ADV increased its holdings in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after buying an additional 750 shares during the period. Silicon Valley Capital Partners bought a new position in Robinhood Markets in the fourth quarter worth approximately $37,000. Bogart Wealth LLC purchased a new stake in Robinhood Markets during the fourth quarter worth $37,000. Finally, Spire Wealth Management boosted its position in Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after acquiring an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Baiju Bhatt sold 522,180 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the sale, the director now directly owns 5,042 shares of the company's stock, valued at $316,133.40. This represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,784,193 shares of company stock worth $137,892,219. Insiders own 19.95% of the company's stock.

Robinhood Markets Price Performance

NASDAQ HOOD traded up $0.52 during trading hours on Friday, reaching $41.18. The company's stock had a trading volume of 23,885,589 shares, compared to its average volume of 24,183,991. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The company's 50-day moving average is $45.46 and its two-hundred day moving average is $39.92. The firm has a market capitalization of $36.46 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 1.05 and a beta of 2.17.

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 for the quarter, beating analysts' consensus estimates 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 forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of recent research reports. Wolfe Research downgraded Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Needham & Company LLC cut their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Deutsche Bank Aktiengesellschaft decreased their target price 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. Raymond James initiated coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a "market perform" rating on the stock. Finally, Cantor Fitzgerald began coverage on Robinhood Markets in a research note on Thursday, March 6th. They set an "overweight" rating and a $69.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average target price of $55.06.

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.