Avestar Capital LLC Cuts Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Avestar Capital LLC lowered its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 19.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,169 shares of the company’s stock after selling 1,962 shares during the quarter. Avestar Capital LLC’s holdings in Robinhood Markets were worth $304,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. FMR LLC grew its position in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. State Street Corp grew its position in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after purchasing an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC boosted its stake in Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after buying an additional 1,895,427 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Robinhood Markets by 33.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after buying an additional 1,137,677 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Robinhood Markets by 19.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock valued at $179,463,000 after buying an additional 739,631 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the transaction, the insider now directly owns 395,166 shares in the company, valued at approximately $14,834,531.64. This trade represents a 4.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total value of $477,750.00. Following the completion of the transaction, the insider now owns 1,106,955 shares in the company, valued at $42,307,820.10. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,948,427 shares of company stock worth $165,005,244 in the last ninety days. 19.95% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Citigroup increased their price target on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday. KeyCorp increased their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday. Sanford C. Bernstein increased their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $58.07.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $65.28 on Friday. Robinhood Markets, Inc. has a 52-week low of $13.04 and a 52-week high of $66.91. The firm has a market capitalization of $57.71 billion, a P/E ratio of 110.65, a P/E/G ratio of 0.73 and a beta of 2.13. The stock has a 50 day moving average price of $45.45 and a 200 day moving average price of $32.43.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.97 EPS for the current 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.