Ellevest Inc. Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Ellevest Inc. purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,593 shares of the company's stock, valued at approximately $283,000.

Several other hedge funds have also recently modified their holdings of HOOD. Engle Capital Management L.P. acquired a new stake in shares of Robinhood Markets in the 4th quarter worth $5,924,000. Ensign Peak Advisors Inc lifted its position in Robinhood Markets by 122.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 406,872 shares of the company's stock valued at $15,160,000 after purchasing an additional 223,716 shares during the period. Ethic Inc. lifted its position in Robinhood Markets by 198.7% in the fourth quarter. Ethic Inc. now owns 42,878 shares of the company's stock valued at $1,598,000 after purchasing an additional 28,523 shares during the period. FORA Capital LLC boosted its holdings in Robinhood Markets by 67.7% in the 4th quarter. FORA Capital LLC now owns 293,764 shares of the company's stock valued at $10,946,000 after purchasing an additional 118,601 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new position in Robinhood Markets during the 4th quarter worth approximately $51,952,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Trading Up 1.1 %

NASDAQ HOOD opened at $54.65 on Friday. The business's 50-day moving average price is $43.38 and its 200 day moving average price is $42.50. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The company has a market capitalization of $48.39 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Robinhood Markets's revenue was up 50.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. Equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the transaction, the chief technology officer now owns 5,853 shares in the company, valued at approximately $201,987.03. This trade represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the sale, the insider now owns 822,893 shares of the company's stock, valued at approximately $40,338,214.86. This represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,243,727 shares of company stock valued at $109,688,747. 14.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Needham & Company LLC decreased their price target on Robinhood Markets from $62.00 to $58.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Raymond James started coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a "market perform" rating on the stock. Morgan Stanley cut shares of Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 target price for the company. in a report on Tuesday, April 8th. Finally, Citigroup lowered their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $53.24.

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.

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