Tocqueville Asset Management L.P. Trims Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Tocqueville Asset Management L.P. decreased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 13.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,550 shares of the company’s stock after selling 1,150 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Robinhood Markets were worth $281,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter worth $26,000. Creative Financial Designs Inc. ADV increased its position in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares in the last quarter. Silicon Valley Capital Partners acquired a new stake in shares of Robinhood Markets in the fourth quarter worth $37,000. Bogart Wealth LLC purchased a new position in shares of Robinhood Markets in the fourth quarter valued at $37,000. Finally, Spire Wealth Management boosted its stake in shares of Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after purchasing an additional 549 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several analyst reports. JMP Securities upped their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Citigroup upped their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Finally, KeyCorp increased their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.29.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $43.66 on Friday. The firm’s 50-day moving average is $48.96 and its 200-day moving average is $36.99. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The company has a market cap of $38.66 billion, a P/E ratio of 27.81, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,979,251 shares of company stock valued at $142,232,560 in the last quarter. Company 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.