DRW Securities LLC Sells 50,557 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

DRW Securities LLC cut its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 85.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,358 shares of the company’s stock after selling 50,557 shares during the period. DRW Securities LLC’s holdings in Robinhood Markets were worth $311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new stake in Robinhood Markets during the 4th quarter worth approximately $26,000. Creative Financial Designs Inc. ADV increased its holdings in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the period. Silicon Valley Capital Partners purchased a new stake in shares of Robinhood Markets in the fourth quarter worth $37,000. Bogart Wealth LLC bought a new stake in Robinhood Markets during the fourth quarter valued at $37,000. Finally, Spire Wealth Management grew its position in 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 buying an additional 549 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the transaction, the chief technology officer now owns 5,853 shares in the company, valued at $201,987.03. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,651,987 shares of company stock worth $132,806,233. Company insiders own 19.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Mizuho lifted their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Compass Point initiated coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price target for the company. JPMorgan Chase & Co. raised their price objective 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. Needham & Company LLC cut their target price on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.06.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $40.51 on Friday. The company has a market capitalization of $35.87 billion, a P/E ratio of 25.80, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The stock has a 50 day moving average price of $46.63 and a two-hundred day moving average price of $39.35.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results 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%. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.