EverSource Wealth Advisors LLC Boosts Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

EverSource Wealth Advisors LLC raised its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 177.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,407 shares of the company’s stock after purchasing an additional 899 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Robinhood Markets were worth $52,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. FMR LLC grew its stake in Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares during the last quarter. State Street Corp grew its stake in Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC grew its stake in Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after buying an additional 138,267 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Robinhood Markets by 19.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock worth $179,463,000 after buying an additional 739,631 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the transaction, the director now owns 5,042 shares in the company, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,985,127 shares of company stock worth $142,455,378. 19.95% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Raymond James assumed coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating on the stock. Compass Point assumed coverage on Robinhood Markets in a research note on Wednesday. They issued a “buy” rating and a $61.00 target price on the stock. JMP Securities upped their target price on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Citigroup upped their target price on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.29.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $42.80 on Thursday. The company has a market cap of $37.90 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The stock’s 50 day simple moving average is $48.90 and its 200-day simple moving average is $36.94. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating 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, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 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.