Certuity LLC Cuts Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Certuity LLC cut its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 72.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,862 shares of the company’s stock after selling 34,569 shares during the quarter. Certuity LLC’s holdings in Robinhood Markets were worth $479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at $26,000. Silicon Valley Capital Partners purchased a new stake in Robinhood Markets during the 4th quarter worth about $37,000. Spire Wealth Management raised its position in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after purchasing an additional 549 shares in the last quarter. HM Payson & Co. boosted its stake in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares during the period. Finally, True Wealth Design LLC acquired a new position in shares of Robinhood Markets during the third quarter worth about $30,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the completion of the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $279,024.28. This trade represents a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Tuesday, December 3rd. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,948,427 shares of company stock worth $165,005,244. 19.95% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Piper Sandler lifted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. KeyCorp raised their price target on Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, JMP Securities upped their price objective on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.67.

Robinhood Markets Stock Up 4.8 %

HOOD opened at $55.91 on Thursday. Robinhood Markets, Inc. has a 52 week low of $11.43 and a 52 week high of $57.27. The business’s 50 day moving average is $44.48 and its two-hundred day moving average is $31.90. The firm has a market cap of $49.42 billion, a price-to-earnings ratio of 94.76, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced its 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 21.80% and a return on equity of 7.52%. Equities analysts expect that Robinhood Markets, Inc. will post 0.97 EPS for the current fiscal 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.