West Michigan Advisors LLC Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

West Michigan Advisors LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,030 shares of the company’s stock, valued at approximately $299,000.

A number of other institutional investors have also recently bought and sold shares of HOOD. Creative Planning raised its stake in shares of Robinhood Markets by 34.6% in the 3rd quarter. Creative Planning now owns 35,384 shares of the company’s stock valued at $829,000 after buying an additional 9,094 shares in the last quarter. Raymond James & Associates increased its stake in Robinhood Markets by 76.6% in the third quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock valued at $2,325,000 after acquiring an additional 43,075 shares during the period. International Assets Investment Management LLC raised its position in Robinhood Markets by 301.5% in the third quarter. International Assets Investment Management LLC now owns 7,026 shares of the company’s stock worth $165,000 after purchasing an additional 5,276 shares in the last quarter. HM Payson & Co. lifted its stake in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the period. Finally, US Bancorp DE boosted its holdings in Robinhood Markets by 94.0% during the third quarter. US Bancorp DE now owns 27,751 shares of the company’s stock valued at $650,000 after purchasing an additional 13,448 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Price Performance

HOOD opened at $50.10 on Friday. The stock has a market capitalization of $44.29 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. The company’s 50 day simple moving average is $48.34 and its 200-day simple moving average is $34.99. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 123,272 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $55.80, for a total value of $6,878,577.60. Following the transaction, the insider now directly owns 298,826 shares of the company’s stock, valued at approximately $16,674,490.80. This trade represents a 29.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction 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 sale, the insider now directly owns 1,106,955 shares of the company’s stock, valued at $42,307,820.10. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,624,018 shares of company stock worth $206,917,425 over the last 90 days. Insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. KeyCorp increased their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Raymond James initiated coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods increased their target price on shares of Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Finally, Mizuho lifted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.53.

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.