Masso Torrence Wealth Management Inc. Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Masso Torrence Wealth Management Inc. purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,090 shares of the company’s stock, valued at approximately $264,000.

Several other institutional investors have also bought and sold shares of the company. HM Payson & Co. lifted its holdings in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares in the last quarter. Eastern Bank purchased a new stake in Robinhood Markets in the third quarter valued at approximately $30,000. True Wealth Design LLC purchased a new position in Robinhood Markets in the 3rd quarter worth approximately $30,000. ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets in the 3rd quarter worth $33,000. Finally, Connective Portfolio Management LLC bought a new stake in shares of Robinhood Markets during the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $24.21, for a total value of $6,052,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction on Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the transaction, the chief technology officer now owns 11,752 shares of the company’s stock, valued at $445,635.84. The trade was a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,291,524 shares of company stock worth $170,349,862 over the last three months. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Down 0.3 %

NASDAQ:HOOD opened at $49.26 on Wednesday. The firm’s fifty day simple moving average is $40.92 and its 200 day simple moving average is $29.59. The stock has a market cap of $43.55 billion, a P/E ratio of 82.65, a price-to-earnings-growth ratio of 0.67 and a beta of 2.07. Robinhood Markets, Inc. has a twelve month low of $10.51 and a twelve month high of $52.06.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same period in the previous year, the firm posted ($0.09) EPS. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. On average, analysts expect that Robinhood Markets, Inc. will post 0.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HOOD has been the subject of several research analyst reports. Citigroup lifted their price target on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Barclays lifted their target price on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods raised their price objective on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their target price for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Finally, Piper Sandler increased their target price 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 given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.07.

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.