Kingsview Wealth Management LLC Acquires New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Kingsview Wealth Management LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,965 shares of the company’s stock, valued at approximately $595,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Robinhood Markets by 1,211,858.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after purchasing an additional 3,817,355 shares during the last quarter. Azora Capital LP bought a new stake in Robinhood Markets in the third quarter valued at $79,780,000. FMR LLC lifted its stake in Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Robinhood Markets by 486.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock worth $103,906,000 after acquiring an additional 2,313,213 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $55.91 on Thursday. The company has a market capitalization of $49.42 billion, a PE ratio of 94.76, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The stock has a fifty day moving average of $44.48 and a 200-day moving average of $31.90. Robinhood Markets, Inc. has a one year low of $11.43 and a one year high of $57.27.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. As a group, research analysts forecast that Robinhood Markets, Inc. will post 0.97 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on HOOD shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. KeyCorp boosted their price target on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Mizuho raised their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Citigroup upped their price objective on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, JMP Securities raised their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.67.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the sale, the insider now owns 806,955 shares of the company’s stock, valued at $30,268,882.05. This trade represents a 27.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the transaction, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,948,427 shares of company stock worth $165,005,244 over the last ninety days. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Company 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.