Bank of New York Mellon Corp Boosts Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Bank of New York Mellon Corp lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,549,758 shares of the company’s stock after purchasing an additional 117,342 shares during the period. Bank of New York Mellon Corp’s holdings in Robinhood Markets were worth $95,004,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets during the fourth quarter worth about $26,000. Silicon Valley Capital Partners bought a new position in shares of Robinhood Markets during the fourth quarter worth about $37,000. Bogart Wealth LLC bought a new position in shares of Robinhood Markets during the fourth quarter worth about $37,000. Spire Wealth Management lifted its position in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after purchasing an additional 549 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in 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 acquiring an additional 643 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $50.10 on Monday. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The firm has a market capitalization of $44.36 billion, a PE ratio of 31.91, a P/E/G 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 $35.11.

Robinhood Markets (NASDAQ:HOOD) last posted 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 net margin of 47.81% and a return on equity of 13.53%. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HOOD has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. JMP Securities raised their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their target price for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Morgan Stanley raised their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Piper Sandler raised their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus target price of $59.53.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 123,272 shares of Robinhood Markets 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 owns 298,826 shares in the company, valued at approximately $16,674,490.80. The trade was a 29.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets 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 in the company, valued at approximately $42,307,820.10. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,624,018 shares of company stock worth $206,917,425 over the last quarter. 19.95% of the stock is currently owned by company insiders.

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.