Cetera Investment Advisers Acquires 67,061 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Cetera Investment Advisers lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 183.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,551 shares of the company's stock after buying an additional 67,061 shares during the quarter. Cetera Investment Advisers' holdings in Robinhood Markets were worth $3,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HOOD. Wedmont Private Capital bought a new position in shares of Robinhood Markets in the fourth quarter valued at $386,000. AdvisorNet Financial Inc grew its stake in shares of Robinhood Markets by 34.6% in the fourth quarter. AdvisorNet Financial Inc now owns 3,372 shares of the company's stock valued at $126,000 after buying an additional 867 shares in the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Robinhood Markets in the fourth quarter valued at $254,000. Oak Thistle LLC bought a new position in shares of Robinhood Markets in the fourth quarter valued at $797,000. Finally, Park Avenue Securities LLC bought a new position in shares of Robinhood Markets in the fourth quarter valued at $1,447,000. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Morgan Stanley lifted their price objective on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. Piper Sandler lifted their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Cantor Fitzgerald reduced their price objective on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, Compass Point initiated coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective for the company. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average price target of $55.41.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the transaction, the insider now owns 706,642 shares of the company's stock, valued at $42,942,634.34. The trade was a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 107,608 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $60.41, for a total value of $6,500,599.28. Following the completion of the transaction, the director now directly owns 7,863 shares of the company's stock, valued at approximately $475,003.83. This trade represents a 93.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,947,622 shares of company stock valued at $89,994,656 over the last quarter. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets Stock Up 4.1%

Shares of HOOD traded up $2.51 during midday trading on Monday, reaching $64.27. 34,046,604 shares of the stock were exchanged, compared to its average volume of 26,321,989. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The company has a market cap of $56.91 billion, a P/E ratio of 40.94, a PEG ratio of 1.05 and a beta of 2.15. The stock's 50 day simple moving average is $45.78 and its 200 day simple moving average is $44.07.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The firm 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%. The firm's quarterly revenue was up 50.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. As a group, analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.