Evercore Wealth Management LLC Makes New $249,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Evercore Wealth Management LLC acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,691 shares of the company's stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HOOD. Coppell Advisory Solutions LLC acquired a new stake in Robinhood Markets in the 4th quarter worth about $41,000. MGO One Seven LLC acquired a new position in Robinhood Markets during the fourth quarter worth approximately $276,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after purchasing an additional 3,994,745 shares during the last quarter. Quantessence Capital LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at $1,055,000. Finally, Hunting Hill Global Capital LLC purchased a new position in shares of Robinhood Markets in the 4th quarter worth $456,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

HOOD has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Needham & Company LLC dropped their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Raymond James assumed coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a "market perform" rating for the company. Compass Point initiated coverage on Robinhood Markets in a research report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective on the stock. Finally, Piper Sandler increased their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.88.

Robinhood Markets Price Performance

HOOD traded down $1.17 during trading hours on Monday, hitting $48.28. 22,686,023 shares of the stock were exchanged, compared to its average volume of 24,930,993. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The stock has a 50-day simple moving average of $43.49 and a 200-day simple moving average of $41.00. The stock has a market cap of $42.75 billion, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating 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%. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at approximately $36,462,727.20. The trade was a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 522,180 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now directly owns 5,042 shares in the company, valued at $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,234,584 shares of company stock valued at $109,755,759. 19.95% of the stock is currently 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.