Northern Trust Corp Has $145.22 Million Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Northern Trust Corp boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 27.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,897,575 shares of the company's stock after buying an additional 830,703 shares during the quarter. Northern Trust Corp owned approximately 0.44% of Robinhood Markets worth $145,224,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at $26,000. Creative Financial Designs Inc. ADV lifted its holdings in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after purchasing an additional 750 shares during the last quarter. Silicon Valley Capital Partners acquired a new position in Robinhood Markets in the fourth quarter valued at about $37,000. Bogart Wealth LLC bought a new stake in Robinhood Markets during the fourth quarter worth about $37,000. Finally, Spire Wealth Management grew its stake in Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after buying an additional 549 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Down 1.1 %

NASDAQ HOOD traded down $0.54 on Monday, reaching $48.05. The company had a trading volume of 37,058,746 shares, compared to its average volume of 25,854,900. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The stock's 50 day moving average is $43.08 and its 200-day moving average is $41.76. The stock has a market cap of $42.55 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 1.05 and a beta of 2.15.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HOOD shares. Citigroup reduced their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Raymond James assumed coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating on the stock. JMP Securities restated a "market outperform" rating and issued a $70.00 target price on shares of Robinhood Markets in a research note on Thursday. Needham & Company LLC cut their price target on Robinhood Markets from $62.00 to $58.00 and set a "buy" rating for the company in a report on Thursday. Finally, Compass Point began coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $53.24.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 90,866 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the completion of the transaction, the director now directly owns 5,042 shares of the company's stock, valued at approximately $279,024.28. The trade was a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,309,593 shares of company stock valued at $113,525,021 over the last three months. 19.95% of the stock is currently owned by corporate 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.