Arete Wealth Advisors LLC Buys Shares of 7,195 Robinhood Markets, Inc. (NASDAQ:HOOD)

Arete Wealth Advisors LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,195 shares of the company’s stock, valued at approximately $272,000.

Several other large investors also recently made changes to their positions in the company. World Investment Advisors bought a new position in Robinhood Markets in the 4th quarter worth approximately $253,000. Westpac Banking Corp bought a new position in shares of Robinhood Markets in the fourth quarter worth $1,139,000. Cynosure Group LLC acquired a new position in shares of Robinhood Markets during the fourth quarter valued at $832,000. Huntington National Bank raised its stake in shares of Robinhood Markets by 360.2% during the fourth quarter. Huntington National Bank now owns 1,652 shares of the company’s stock valued at $62,000 after purchasing an additional 1,293 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Robinhood Markets in the fourth quarter worth about $56,659,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $34.51 on Monday. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The firm has a market capitalization of $30.56 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 1.05 and a beta of 2.17. The company has a 50 day moving average price of $48.15 and a 200 day moving average price of $38.93.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 EPS 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%. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 500,000 shares of Robinhood Markets stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total transaction of $25,385,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,621,134 shares of company stock valued at $131,646,496 in the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Needham & Company LLC lowered their target price on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. JMP Securities boosted their target price on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Piper Sandler increased their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. KeyCorp boosted 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. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.24.

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.