Vestmark Advisory Solutions Inc. Purchases Shares of 542,000 Robinhood Markets, Inc. (NASDAQ:HOOD)

Vestmark Advisory Solutions Inc. acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 542,000 shares of the company’s stock, valued at approximately $6,905,000. Vestmark Advisory Solutions Inc. owned 0.06% of Robinhood Markets at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Peoples Bank KS acquired a new stake in Robinhood Markets during the 3rd quarter worth approximately $29,000. UniSuper Management Pty Ltd purchased a new stake in shares of Robinhood Markets during the 3rd quarter valued at about $30,000. Whittier Trust Co. grew its position in Robinhood Markets by 100.0% in the fourth quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock valued at $59,000 after acquiring an additional 2,317 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $89,000. Finally, International Assets Investment Management LLC lifted its position in shares of Robinhood Markets by 1,174.1% during the fourth quarter. International Assets Investment Management LLC now owns 7,326 shares of the company’s stock worth $93,000 after purchasing an additional 6,751 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Robinhood Markets from $11.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Piper Sandler lifted their target price on Robinhood Markets from $12.50 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JMP Securities increased their price target on Robinhood Markets from $25.00 to $28.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. Barclays lifted their price objective on Robinhood Markets from $11.00 to $16.00 and gave the stock an “underweight” rating in a report on Monday, April 8th. Finally, Mizuho upped their target price on Robinhood Markets from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.88.

Robinhood Markets Trading Up 1.9 %

Shares of NASDAQ HOOD traded up $0.34 during midday trading on Friday, hitting $17.95. The company’s stock had a trading volume of 9,478,765 shares, compared to its average volume of 9,134,183. Robinhood Markets, Inc. has a 1-year low of $7.91 and a 1-year high of $20.55. The firm’s fifty day moving average price is $17.70 and its 200-day moving average price is $13.19.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.19) earnings per share. On average, equities analysts forecast that Robinhood Markets, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $10.61, for a total value of $2,652,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $10.61, for a total value of $2,652,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.59, for a total value of $97,950.00. Following the sale, the chief financial officer now directly owns 1,002,407 shares in the company, valued at approximately $19,637,153.13. The disclosure for this sale can be found here. Insiders sold a total of 2,413,026 shares of company stock worth $37,007,017 in the last three months. 20.81% of the stock is owned by insiders.

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.