Atria Wealth Solutions Inc. Raises Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Atria Wealth Solutions Inc. grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 5.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 214,263 shares of the company’s stock after buying an additional 10,300 shares during the period. Atria Wealth Solutions Inc.’s holdings in Robinhood Markets were worth $2,730,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Peoples Bank KS bought a new position in shares of Robinhood Markets during the third quarter valued at approximately $29,000. UniSuper Management Pty Ltd bought a new position in Robinhood Markets in the third quarter worth approximately $30,000. Whittier Trust Co. grew its stake in Robinhood Markets by 100.0% in the fourth quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock worth $59,000 after purchasing an additional 2,317 shares in the last quarter. CWM LLC grew its stake in Robinhood Markets by 61.1% in the third quarter. CWM LLC now owns 8,488 shares of the company’s stock worth $83,000 after purchasing an additional 3,219 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new position in Robinhood Markets in the fourth quarter worth approximately $89,000. Institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent research reports. Morgan Stanley increased their target price on Robinhood Markets from $11.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods initiated coverage on Robinhood Markets in a research report on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $12.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, March 19th. The Goldman Sachs Group increased their target price on Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Finally, Piper Sandler increased their price objective on Robinhood Markets from $12.50 to $17.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.88.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $17.88 on Monday. Robinhood Markets, Inc. has a 52 week low of $7.91 and a 52 week high of $20.55. The stock’s 50-day moving average price is $17.38 and its 200-day moving average price is $12.97.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The company had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $454.73 million. During the same period in the previous year, the firm posted ($0.19) EPS. Robinhood Markets’s revenue was up 23.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 500,000 shares of Robinhood Markets stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.12, for a total value of $7,560,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Vladimir Tenev sold 500,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.12, for a total transaction of $7,560,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $10.61, for a total transaction of $132,625.00. Following the sale, the insider now directly owns 738,291 shares in the company, valued at approximately $7,833,267.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,382,977 shares of company stock worth $36,496,582. Insiders own 20.81% of the company’s stock.

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.