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

Modern Wealth Management LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, Holdings Channel.com reports. The fund bought 6,028 shares of the company’s stock, valued at approximately $225,000.

Other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC increased its position in shares of Robinhood Markets by 32.2% during the third quarter. Cerity Partners LLC now owns 107,629 shares of the company’s stock valued at $2,521,000 after buying an additional 26,245 shares during the period. Daiwa Securities Group Inc. increased its holdings in Robinhood Markets by 7.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 49,910 shares of the company’s stock worth $1,168,000 after acquiring an additional 3,490 shares during the period. FMR LLC lifted its stake in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. Bridgewater Associates LP boosted its holdings in Robinhood Markets by 100.4% in the 3rd quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock valued at $7,751,000 after purchasing an additional 165,791 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Robinhood Markets by 8.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,178,669 shares of the company’s stock valued at $51,024,000 after purchasing an additional 177,395 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on HOOD. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Morgan Stanley boosted their price objective on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. KeyCorp upped their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Raymond James started coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating on the stock. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.82.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $41.92 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The firm has a market cap of $37.12 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The business has a 50 day moving average price of $49.16 and a 200-day moving average price of $38.06.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating 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%. Research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $40.45, for a total value of $4,045,000.00. Following the completion of the sale, the insider now owns 731,642 shares of the company’s stock, valued at $29,594,918.90. This trade represents a 12.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 47,023 shares of Robinhood Markets stock in a transaction on Monday, March 24th. The shares were sold at an average price of $46.37, for a total transaction of $2,180,456.51. Following the completion of the sale, the director now owns 5,042 shares in the company, valued at approximately $233,797.54. This trade represents a 90.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,955,655 shares of company stock valued at $143,072,448 over the last ninety days. 19.95% of the stock is owned by insiders.

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.