Napa Wealth Management Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Napa Wealth Management acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 26,467 shares of the company's stock, valued at approximately $986,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth $26,000. CoreCap Advisors LLC lifted its stake in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after buying an additional 750 shares during the last quarter. Colonial Trust Co SC acquired a new position in Robinhood Markets in the fourth quarter valued at $34,000. Finally, Silicon Valley Capital Partners acquired a new position in Robinhood Markets during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Quirk sold 123,272 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the sale, the insider now owns 298,826 shares of the company's stock, valued at approximately $16,674,490.80. This represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,840,014 shares of company stock worth $83,494,057. Corporate insiders own 14.47% of the company's stock.

Robinhood Markets Trading Down 1.2%

NASDAQ:HOOD traded down $0.71 during mid-day trading on Thursday, reaching $60.68. 36,700,634 shares of the stock were exchanged, compared to its average volume of 26,360,471. The business has a fifty day moving average price of $44.26 and a 200 day moving average price of $43.08. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The firm has a market capitalization of $53.73 billion, a PE ratio of 38.65, a PEG ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data 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 for 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 quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on HOOD shares. Needham & Company LLC boosted their price target on shares of Robinhood Markets from $58.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. The Goldman Sachs Group lifted their target price on Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday. Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Finally, JMP Securities reissued a "market outperform" rating and issued a $70.00 price target on shares of Robinhood Markets in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.41.

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.