Golden State Wealth Management LLC Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Golden State Wealth Management LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,722 shares of the company’s stock, valued at approximately $101,000.

Other institutional investors also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the 4th quarter valued at $26,000. HM Payson & Co. lifted its holdings in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the last quarter. Eastern Bank bought a new position in Robinhood Markets during the third quarter worth about $30,000. True Wealth Design LLC purchased a new position in shares of Robinhood Markets in the third quarter worth about $30,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of Robinhood Markets in the third quarter valued at approximately $33,000. Institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total value of $1,290,000.00. Following the transaction, the insider now owns 706,642 shares in the company, valued at $36,462,727.20. This trade represents a 3.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Quirk sold 19,861 shares of the stock in a transaction dated Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the sale, the insider now owns 395,166 shares of the company’s stock, valued at $14,834,531.64. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,857,561 shares of company stock worth $159,976,719 in the last quarter. 19.95% of the stock is owned by insiders.

Robinhood Markets Stock Up 5.1 %

Shares of HOOD stock opened at $55.86 on Monday. The firm has a market cap of $49.38 billion, a P/E ratio of 94.68, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The business has a 50-day moving average price of $43.49 and a two-hundred day moving average price of $31.26. Robinhood Markets, Inc. has a 12-month low of $11.00 and a 12-month high of $55.98.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays raised their price objective on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $20.00 to $43.00 in a research report on Tuesday, January 7th. Piper Sandler increased their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. JMP Securities lifted their target price on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Four equities 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.67.

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.