SVB Wealth LLC Acquires Shares of 24,382 Robinhood Markets, Inc. (NASDAQ:HOOD)

SVB Wealth LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,382 shares of the company’s stock, valued at approximately $908,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HOOD. Raymond James & Associates grew its stake in shares of Robinhood Markets by 76.6% during the 3rd quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock worth $2,325,000 after purchasing an additional 43,075 shares during the period. International Assets Investment Management LLC boosted its holdings in Robinhood Markets by 301.5% during the third quarter. International Assets Investment Management LLC now owns 7,026 shares of the company’s stock worth $165,000 after buying an additional 5,276 shares in the last quarter. US Bancorp DE grew its position 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 buying an additional 13,448 shares during the period. Farther Finance Advisors LLC increased its holdings in Robinhood Markets by 834.5% in the third quarter. Farther Finance Advisors LLC now owns 6,504 shares of the company’s stock valued at $152,000 after buying an additional 5,808 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Robinhood Markets by 24.7% in the third quarter. Van ECK Associates Corp now owns 627,743 shares of the company’s stock worth $14,702,000 after acquiring an additional 124,410 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Needham & Company LLC raised their target price on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Sanford C. Bernstein raised their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Morgan Stanley increased their target price on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Mizuho boosted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.53.

Robinhood Markets Trading Down 6.4 %

HOOD opened at $46.89 on Tuesday. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The firm has a market capitalization of $41.52 billion, a PE ratio of 29.87, a PEG ratio of 1.05 and a beta of 2.13. The firm’s 50-day moving average price is $48.53 and its 200 day moving average price is $35.30.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Steven M. Quirk sold 123,272 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was 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 in the company, valued at approximately $16,674,490.80. This represents a 29.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the sale, the insider now directly owns 806,955 shares of the company’s stock, valued at approximately $30,268,882.05. This trade represents a 27.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,676,469 shares of company stock valued at $209,663,843. Insiders own 19.95% of the company’s stock.

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.