Commonwealth Equity Services LLC Purchases 22,508 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Commonwealth Equity Services LLC lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 26.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 109,033 shares of the company’s stock after buying an additional 22,508 shares during the period. Commonwealth Equity Services LLC’s holdings in Robinhood Markets were worth $4,063,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of HOOD. FMR LLC grew its holdings in Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the last quarter. State Street Corp boosted its position in shares of Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after purchasing an additional 1,085,679 shares in 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 worth $271,708,000 after buying an additional 1,895,427 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Robinhood Markets by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after buying an additional 138,267 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in 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 valued at $179,463,000 after buying an additional 739,631 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HOOD shares. Barclays upped their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Mizuho raised their price target 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. Cantor Fitzgerald began coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They set an “overweight” rating and a $69.00 price objective on the stock. Compass Point assumed coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a “buy” rating and a $61.00 target price for the company. Finally, Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now directly owns 17,559 shares in the company, valued at $821,936.79. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,679,251 shares of company stock worth $130,979,560. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $44.36 on Monday. The company has a market capitalization of $39.28 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The company’s fifty day moving average price is $49.04 and its 200 day moving average price is $37.41. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results 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 net margin of 47.81% and a return on equity of 13.53%. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.