New Wave Wealth Advisors LLC Makes New $26,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 704 shares of the company’s stock, valued at approximately $26,000.

A number of other institutional investors and hedge funds have also made changes to their positions in HOOD. Mediolanum International Funds Ltd acquired a new position in Robinhood Markets during the 4th quarter valued at approximately $515,000. Highland Capital Management LLC acquired a new position in shares of Robinhood Markets during the fourth quarter valued at $242,000. Swedbank AB boosted its holdings in shares of Robinhood Markets by 14.5% during the fourth quarter. Swedbank AB now owns 258,435 shares of the company’s stock valued at $9,629,000 after acquiring an additional 32,714 shares during the period. Masso Torrence Wealth Management Inc. bought a new position in shares of Robinhood Markets during the fourth quarter worth about $264,000. Finally, BOCHK Asset Management Ltd acquired a new stake in shares of Robinhood Markets in the 4th quarter worth about $16,640,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the sale, the chief technology officer now directly owns 11,752 shares of the company’s stock, valued at approximately $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meyer Malka sold 1,535,681 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the transaction, the director now directly owns 4,974,238 shares in the company, valued at approximately $199,516,686.18. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,297,400 shares of company stock valued at $170,630,852 in the last three months. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Price Performance

Shares of HOOD opened at $51.95 on Friday. The firm’s 50 day moving average is $41.88 and its 200-day moving average is $30.10. Robinhood Markets, Inc. has a 12-month low of $10.51 and a 12-month high of $53.51. The stock has a market capitalization of $45.92 billion, a P/E ratio of 88.05, a P/E/G ratio of 0.69 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly 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 during the quarter, compared to analyst estimates of $660.53 million. During the same quarter last year, the firm posted ($0.09) EPS. The company’s quarterly revenue was up 36.4% compared to the same quarter last year. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 0.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HOOD shares. Deutsche Bank Aktiengesellschaft boosted 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. Sanford C. Bernstein increased their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Needham & Company LLC restated 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. Citigroup boosted their price target on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Finally, Piper Sandler raised their price target on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.73.

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.