SeaCrest Wealth Management LLC Acquires Shares of 6,810 Robinhood Markets, Inc. (NASDAQ:HOOD)

SeaCrest Wealth Management LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,810 shares of the company's stock, valued at approximately $254,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in Robinhood Markets by 31.1% during 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. Everence Capital Management Inc. acquired a new position in Robinhood Markets in the fourth quarter valued at about $634,000. Baker Avenue Asset Management LP lifted its position in Robinhood Markets by 77.9% during the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company's stock worth $10,874,000 after purchasing an additional 203,354 shares during the period. Bridgewater Associates LP lifted its position in Robinhood Markets by 100.4% during the third quarter. Bridgewater Associates LP now owns 330,956 shares of the company's stock worth $7,751,000 after purchasing an additional 165,791 shares during the period. Finally, Friedenthal Financial acquired a new stake in Robinhood Markets during the fourth quarter worth about $764,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Up 4.5 %

HOOD traded up $2.07 during midday trading on Friday, hitting $48.15. 35,128,062 shares of the company were exchanged, compared to its average volume of 17,235,492. The firm's 50 day moving average price is $38.63 and its 200-day moving average price is $28.18. Robinhood Markets, Inc. has a 1-year low of $10.38 and a 1-year high of $49.27. The firm has a market capitalization of $42.56 billion, a P/E ratio of 81.61, a P/E/G ratio of 0.58 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. Robinhood Markets's revenue was up 36.4% compared to the same quarter last year. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. upgraded Robinhood Markets from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $20.00 to $43.00 in a research note on Tuesday, January 7th. JMP Securities upped their price objective on Robinhood Markets from $33.00 to $40.00 and gave the stock a "market outperform" rating in a research report on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $24.00 to $38.00 and gave the company a "market perform" rating in a research report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.07.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $24.21, for a total value of $6,052,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 90,866 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $45.27, for a total transaction of $4,113,503.82. Following the sale, the director now directly owns 5,042 shares of the company's stock, valued at approximately $228,251.34. The trade was a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,700,658 shares of company stock worth $140,360,682. Corporate 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.