Evolution Wealth Advisors LLC Purchases Shares of 6,506 Robinhood Markets, Inc. (NASDAQ:HOOD)

Evolution Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,506 shares of the company’s stock, valued at approximately $242,000.

Several other institutional investors have also added to or reduced their stakes in HOOD. HM Payson & Co. grew its holdings in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares in the last quarter. Eastern Bank purchased a new stake in Robinhood Markets during the 3rd quarter valued at $30,000. True Wealth Design LLC bought a new stake in Robinhood Markets in the third quarter worth $30,000. ORG Wealth Partners LLC bought a new stake in Robinhood Markets in the third quarter worth $33,000. Finally, Connective Portfolio Management LLC purchased a new position in Robinhood Markets during the third quarter worth $47,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the topic of several recent analyst reports. Sanford C. Bernstein increased their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods increased their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Finally, Citigroup increased their target price on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.07.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $50.16 on Thursday. Robinhood Markets, Inc. has a 1 year low of $10.51 and a 1 year high of $51.09. The firm’s 50-day moving average is $39.64 and its two-hundred day moving average is $28.77. The stock has a market cap of $44.34 billion, a price-to-earnings ratio of 85.02, a PEG ratio of 0.67 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The firm’s revenue was up 36.4% on a year-over-year basis. On average, equities analysts expect that Robinhood Markets, Inc. will post 0.97 earnings per share for the current year.

Insider Activity

In other news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $24.21, for a total value of $6,052,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Meyer Malka sold 1,535,681 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the sale, the director now owns 4,974,238 shares in the company, valued at $199,516,686.18. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,700,658 shares of company stock worth $140,360,682. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets 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.