Evercore Wealth Management LLC Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Evercore Wealth Management LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,691 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MetLife Investment Management LLC increased its position in shares of Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after purchasing an additional 171 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after purchasing an additional 233 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after buying an additional 277 shares in the last quarter. Spire Wealth Management raised its position 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 buying an additional 549 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Robinhood Markets by 130.7% in the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock worth $42,000 after buying an additional 643 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $55.34, for a total value of $5,028,524.44. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $279,024.28. This represents a 94.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,193,327 shares of company stock worth $107,903,039. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Stock Up 6.3 %

Robinhood Markets stock opened at $44.75 on Thursday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The firm has a market cap of $39.62 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The company’s 50 day moving average is $44.05 and its two-hundred day moving average is $40.45.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HOOD shares. JMP Securities dropped their price target on Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. KeyCorp reduced their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup dropped their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $53.88.

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.