Capital Performance Advisors LLP Raises Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Capital Performance Advisors LLP increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 224.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,086 shares of the company’s stock after buying an additional 4,901 shares during the period. Capital Performance Advisors LLP’s holdings in Robinhood Markets were worth $264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sheaff Brock Investment Advisors LLC raised its position in Robinhood Markets by 11.7% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 13,750 shares of the company’s stock valued at $512,000 after purchasing an additional 1,435 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Robinhood Markets by 130.7% in the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock worth $42,000 after buying an additional 643 shares during the period. Principal Securities Inc. increased its holdings in shares of Robinhood Markets by 255.9% in the fourth quarter. Principal Securities Inc. now owns 7,966 shares of the company’s stock worth $297,000 after buying an additional 5,728 shares during the period. Montag A & Associates Inc. purchased a new position in shares of Robinhood Markets in the fourth quarter worth about $77,000. Finally, Rhumbline Advisers increased its holdings in shares of Robinhood Markets by 2.1% in the fourth quarter. Rhumbline Advisers now owns 746,547 shares of the company’s stock worth $27,816,000 after buying an additional 15,468 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity

In related news, Director Baiju Bhatt sold 90,866 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $55.34, for a total value of $5,028,524.44. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at $279,024.28. The trade was a 94.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the completion of the transaction, the insider now owns 1,106,955 shares of the company’s stock, valued at approximately $42,307,820.10. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,948,427 shares of company stock worth $165,005,244. Insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several analyst reports. Needham & Company LLC lifted their price objective on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. KeyCorp lifted their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Piper Sandler raised their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Raymond James initiated coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.07.

Robinhood Markets Stock Performance

HOOD stock opened at $65.28 on Monday. The firm has a 50 day moving average price of $45.45 and a 200-day moving average price of $32.60. Robinhood Markets, Inc. has a 52-week low of $13.04 and a 52-week high of $66.91. The firm has a market capitalization of $57.71 billion, a price-to-earnings ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. As a group, sell-side analysts forecast 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.