Caprock Group LLC Has $3.69 Million Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Caprock Group LLC reduced its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.5% during the 4th quarter, HoldingsChannel reports. The firm owned 99,029 shares of the company’s stock after selling 1,498 shares during the quarter. Caprock Group LLC’s holdings in Robinhood Markets were worth $3,690,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Sei Investments Co. increased its position in Robinhood Markets by 64.1% during the second quarter. Sei Investments Co. now owns 61,754 shares of the company’s stock worth $1,402,000 after acquiring an additional 24,129 shares during the period. The Manufacturers Life Insurance Company grew its position in Robinhood Markets by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 139,902 shares of the company’s stock worth $3,177,000 after purchasing an additional 11,146 shares during the last quarter. Creative Planning increased its holdings in shares of Robinhood Markets by 142.8% during the 2nd quarter. Creative Planning now owns 26,290 shares of the company’s stock worth $597,000 after purchasing an additional 15,464 shares during the period. NewEdge Advisors LLC raised its position in shares of Robinhood Markets by 58,832.8% during the second quarter. NewEdge Advisors LLC now owns 39,485 shares of the company’s stock valued at $897,000 after buying an additional 39,418 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Robinhood Markets by 26.2% in the second quarter. Cetera Investment Advisers now owns 66,341 shares of the company’s stock valued at $1,507,000 after buying an additional 13,792 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total value of $25,385,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the sale, the chief technology officer now directly owns 11,752 shares of the company’s stock, valued at $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,297,400 shares of company stock valued at $170,630,852 in the last 90 days. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Price Performance

HOOD stock opened at $51.95 on Friday. The business has a fifty day moving average price of $41.88 and a 200 day moving average price of $30.10. Robinhood Markets, Inc. has a fifty-two week low of $10.51 and a fifty-two week high of $53.51. The stock has a market capitalization of $45.92 billion, a price-to-earnings ratio of 88.05, a P/E/G ratio of 0.69 and a beta of 2.07.

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

Wall Street Analysts Forecast Growth

HOOD has been the topic of several research reports. Morgan Stanley boosted their price target on Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Citigroup boosted their price objective on Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective 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. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $43.73.

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.