Evolution Wealth Advisors LLC Reduces Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Evolution Wealth Advisors LLC decreased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 0.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,644,889 shares of the company’s stock after selling 2,385 shares during the quarter. Robinhood Markets accounts for about 9.3% of Evolution Wealth Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. Evolution Wealth Advisors LLC’s holdings in Robinhood Markets were worth $46,436,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HOOD. Vanguard Group Inc. boosted its position in Robinhood Markets by 4.5% in the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after buying an additional 2,459,702 shares in the last quarter. ARK Investment Management LLC increased its position in shares of Robinhood Markets by 6.4% during the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock worth $445,087,000 after acquiring an additional 2,101,325 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Robinhood Markets by 9.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock worth $372,081,000 after acquiring an additional 2,517,012 shares in the last quarter. BlackRock Inc. boosted its holdings in Robinhood Markets by 4.1% during the second quarter. BlackRock Inc. now owns 23,981,614 shares of the company’s stock worth $239,337,000 after purchasing an additional 943,515 shares during the last quarter. Finally, State Street Corp boosted its holdings in Robinhood Markets by 9.2% during the second quarter. State Street Corp now owns 8,333,375 shares of the company’s stock worth $83,167,000 after purchasing an additional 701,836 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HOOD. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $10.00 to $12.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. TheStreet upgraded shares of Robinhood Markets from a “d+” rating to a “c-” rating in a research report on Wednesday, February 28th. Morgan Stanley boosted their price target on shares of Robinhood Markets from $11.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. KeyCorp boosted their target price on shares of Robinhood Markets from $15.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Robinhood Markets in a research report on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.81.

Insider Buying and Selling at Robinhood Markets

In other news, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.59, for a total value of $97,950.00. Following the completion of the transaction, the chief financial officer now owns 1,002,407 shares in the company, valued at approximately $19,637,153.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $10.61, for a total transaction of $2,652,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.59, for a total value of $97,950.00. Following the sale, the chief financial officer now owns 1,002,407 shares of the company’s stock, valued at approximately $19,637,153.13. The disclosure for this sale can be found here. Insiders sold a total of 2,212,150 shares of company stock valued at $33,495,819 in the last three months. 20.81% of the stock is owned by corporate insiders.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD traded down $0.45 during midday trading on Friday, reaching $16.63. 9,526,598 shares of the company’s stock were exchanged, compared to its average volume of 14,734,814. The firm’s 50 day simple moving average is $16.83 and its two-hundred day simple moving average is $12.61. The stock has a market cap of $14.54 billion, a price-to-earnings ratio of -28.47 and a beta of 1.69. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.04. The company had revenue of $471.00 million during the quarter, compared to the consensus estimate of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. Robinhood Markets’s revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) EPS. Equities research analysts predict that Robinhood Markets, Inc. will post 0.29 earnings per share for the current fiscal year.

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.