Sequoia Financial Advisors LLC Takes $226,000 Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Sequoia Financial Advisors LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,056 shares of the company’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Toronto Dominion Bank grew its position in shares of Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after buying an additional 16,219 shares during the period. IFP Advisors Inc increased its stake in Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after purchasing an additional 3,769 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Robinhood Markets in the fourth quarter valued at approximately $634,000. Charles Schwab Investment Management Inc. raised its holdings in 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 purchasing an additional 138,267 shares during the period. Finally, Atomi Financial Group Inc. boosted its position in shares of Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after purchasing an additional 92,613 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Up 2.0 %

NASDAQ HOOD opened at $43.66 on Friday. The firm has a market capitalization of $38.66 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The firm’s fifty day moving average price is $48.96 and its two-hundred day moving average price is $36.99. 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 quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Ratings Changes

HOOD has been the topic of several research analyst reports. Compass Point initiated coverage on Robinhood Markets in a research note on Wednesday. They set a “buy” rating and a $61.00 price objective on the stock. Citigroup lifted their price objective on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Mizuho increased their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. JMP Securities lifted their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.29.

Insider Buying and Selling

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 value of $29,370,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,979,251 shares of company stock valued at $142,232,560. 19.95% 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.