Everence Capital Management Inc. Invests $634,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Everence Capital Management Inc. purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,020 shares of the company's stock, valued at approximately $634,000.

Other hedge funds have also added to or reduced their stakes in the company. Toronto Dominion Bank lifted its holdings in shares of Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company's stock valued at $1,602,000 after purchasing an additional 16,219 shares in the last quarter. Baker Avenue Asset Management LP raised its position in Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company's stock valued at $10,874,000 after buying an additional 203,354 shares during the last quarter. Bridgewater Associates LP raised its position in Robinhood Markets by 100.4% in the 3rd quarter. Bridgewater Associates LP now owns 330,956 shares of the company's stock valued at $7,751,000 after buying an additional 165,791 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in Robinhood Markets by 44.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company's stock valued at $1,481,000 after acquiring an additional 19,345 shares in the last quarter. Finally, EULAV Asset Management boosted its holdings in Robinhood Markets by 22.2% during the 3rd quarter. EULAV Asset Management now owns 550,000 shares of the company's stock worth $12,881,000 after acquiring an additional 100,000 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, November 4th. The stock was sold at an average price of $24.21, for a total transaction of $6,052,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 108,964 shares of the company's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.92, for a total value of $2,715,382.88. Following the completion of the transaction, the director now owns 2,521 shares in the company, valued at $62,823.32. This represents a 97.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,807,772 shares of company stock valued at $211,393,158. Corporate insiders own 19.95% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HOOD. JMP Securities boosted their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a "market outperform" rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a "neutral" rating to a "buy" rating and increased their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Piper Sandler lifted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an "overweight" rating in a research report on Monday, December 2nd. Finally, Barclays raised shares of Robinhood Markets from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $26.00 to $49.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.20.

Robinhood Markets Trading Up 4.8 %

Shares of NASDAQ HOOD traded up $1.91 during mid-day trading on Friday, hitting $41.35. The company had a trading volume of 19,888,668 shares, compared to its average volume of 19,440,984. Robinhood Markets, Inc. has a 1 year low of $10.38 and a 1 year high of $43.83. The company has a market capitalization of $36.55 billion, a price-to-earnings ratio of 70.09, a P/E/G ratio of 0.81 and a beta of 2.09. The stock's 50-day moving average price is $35.52 and its 200-day moving average price is $26.82.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million for the quarter, compared to analysts' expectations of $660.53 million. During the same period in the previous year, the firm earned ($0.09) EPS. The firm's quarterly revenue was up 36.4% compared to the same quarter last year. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

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.