Private Advisor Group LLC Sells 16,241 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Private Advisor Group LLC cut its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,536 shares of the company’s stock after selling 16,241 shares during the period. Private Advisor Group LLC’s holdings in Robinhood Markets were worth $2,554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $26,000. HM Payson & Co. increased its position in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the last quarter. True Wealth Design LLC bought a new stake in Robinhood Markets in the third quarter worth $30,000. Silicon Valley Capital Partners purchased a new stake in Robinhood Markets during the fourth quarter valued at $37,000. Finally, Bogart Wealth LLC bought a new position in Robinhood Markets during the fourth quarter valued at $37,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $49.93 on Tuesday. The company’s 50-day simple moving average is $47.55 and its two-hundred day simple moving average is $34.26. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The company has a market capitalization of $44.14 billion, a P/E ratio of 31.80, a P/E/G ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HOOD. Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Piper Sandler boosted their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Sanford C. Bernstein raised their price target on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $59.53.

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total value of $477,750.00. Following the completion of the sale, the insider now owns 1,106,955 shares of the company’s stock, valued at approximately $42,307,820.10. This represents a 1.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction that occurred on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the transaction, the insider now directly owns 395,166 shares in the company, valued at approximately $14,834,531.64. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,520,607 shares of company stock worth $200,784,430. Company insiders own 19.95% of the company’s stock.

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.