Harbour Capital Advisors LLC Lowers Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Harbour Capital Advisors LLC cut its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,860 shares of the company’s stock after selling 300 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Robinhood Markets were worth $1,359,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Wedmont Private Capital purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at about $386,000. Central Pacific Bank Trust Division grew its holdings in Robinhood Markets by 5.9% in the fourth quarter. Central Pacific Bank Trust Division now owns 32,301 shares of the company’s stock worth $1,204,000 after purchasing an additional 1,812 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Robinhood Markets during the fourth quarter worth $634,000. GAMMA Investing LLC lifted its holdings in shares of Robinhood Markets by 49.3% during the 4th quarter. GAMMA Investing LLC now owns 5,858 shares of the company’s stock valued at $218,000 after purchasing an additional 1,935 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Robinhood Markets by 6,799.1% in the 4th quarter. Versant Capital Management Inc now owns 22,974 shares of the company’s stock worth $856,000 after purchasing an additional 22,641 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Trading Down 2.7 %

Robinhood Markets stock traded down $1.10 during mid-day trading on Monday, hitting $38.98. The company had a trading volume of 10,391,444 shares, compared to its average volume of 16,663,418. The company’s fifty day moving average is $36.99 and its 200-day moving average is $27.49. Robinhood Markets, Inc. has a 12-month low of $10.38 and a 12-month high of $43.83. The company has a market capitalization of $34.46 billion, a price-to-earnings ratio of 66.07, a P/E/G ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) EPS. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of research analyst reports. 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. JMP Securities lifted their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group upgraded shares of 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 note on Friday, December 6th. Barclays raised their price target on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday. Finally, JPMorgan Chase & Co. raised shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.47.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the transaction, the director now directly owns 2,521 shares of the company’s stock, valued at $66,554.40. This trade represents a 97.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of the business’s 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 $14,834,531.64. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,708,196 shares of company stock valued at $138,845,043. 19.95% of the stock is owned by corporate insiders.

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.