Wells Fargo & Company MN Has $11.14 Million Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Wells Fargo & Company MN grew its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 201.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,990 shares of the company's stock after buying an additional 199,678 shares during the quarter. Wells Fargo & Company MN's holdings in Robinhood Markets were worth $11,140,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Pitcairn Co. purchased a new position in Robinhood Markets during the fourth quarter worth $222,000. ExodusPoint Capital Management LP lifted its position in Robinhood Markets by 199.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 354,238 shares of the company's stock worth $13,199,000 after buying an additional 236,079 shares during the period. Arete Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the 4th quarter worth about $272,000. World Investment Advisors acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $253,000. Finally, Westpac Banking Corp purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at $1,139,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

HOOD traded up $0.52 during trading on Friday, hitting $41.18. The company had a trading volume of 23,885,589 shares, compared to its average volume of 24,307,929. The company has a market cap of $36.46 billion, a PE ratio of 26.23, a P/E/G ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The business has a 50-day moving average of $45.22 and a 200-day moving average of $40.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted 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 net margin of 47.81% and a return on equity of 13.53%. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HOOD. Mizuho lifted their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Compass Point began coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective on the stock. Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Piper Sandler raised their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, JMP Securities decreased their price objective on shares of Robinhood Markets from $77.00 to $70.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th. Six investment 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 90,866 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $50.67, for a total value of $4,604,180.22. Following the sale, the director now owns 5,042 shares of the company's stock, valued at approximately $255,478.14. The trade was a 94.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,784,193 shares of company stock worth $137,892,219. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Company 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.