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

Cetera Investment Advisers grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 183.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Centiva Capital LP bought a new position in Robinhood Markets in the 4th quarter worth $2,001,000. Bridger Management LLC bought a new position in Robinhood Markets in the 4th quarter worth $995,000. Bridgefront Capital LLC bought a new position in Robinhood Markets in the 4th quarter worth $398,000. Captrust Financial Advisors raised its holdings in Robinhood Markets by 142.0% in the 4th quarter. Captrust Financial Advisors now owns 45,846 shares of the company's stock worth $1,708,000 after purchasing an additional 26,904 shares during the period. Finally, Caxton Associates LP bought a new position in Robinhood Markets in the 4th quarter worth $262,000. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. Compass Point assumed coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $54.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday. Needham & Company LLC increased their price target on Robinhood Markets from $58.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.41.

Insider Activity

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Tuesday, April 1st. The stock was 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 at this link. Also, Director Baiju Bhatt sold 223,528 shares of Robinhood Markets stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $43.21, for a total value of $9,658,644.88. Following the completion of the transaction, the director now owns 5,042 shares of the company's stock, valued at approximately $217,864.82. This represents a 97.79% 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 worth $89,994,656 over the last 90 days. Corporate insiders own 14.47% of the company's stock.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock traded up $1.08 during trading on Friday, reaching $61.76. 23,851,695 shares of the stock traded hands, compared to its average volume of 26,397,656. The company has a market capitalization of $54.69 billion, a price-to-earnings ratio of 39.34, a P/E/G ratio of 1.05 and a beta of 2.15. The business has a fifty day simple moving average of $45.27 and a two-hundred day simple moving average of $43.54. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company's revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.