OMERS ADMINISTRATION Corp Grows Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

OMERS ADMINISTRATION Corp lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 26.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,647 shares of the company’s stock after purchasing an additional 3,640 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Robinhood Markets were worth $658,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets in the fourth quarter valued at $26,000. CoreCap Advisors LLC boosted its holdings in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares during the period. Colonial Trust Co SC purchased a new position in Robinhood Markets in the fourth quarter valued at $34,000. Finally, Silicon Valley Capital Partners purchased a new position in Robinhood Markets in the fourth quarter valued at $37,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 123,272 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the transaction, the insider now owns 298,826 shares in the company, valued at $16,674,490.80. The trade was a 29.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at $42,942,634.34. This trade represents a 6.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,947,622 shares of company stock worth $89,994,656 in the last quarter. Company insiders own 14.47% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $70.00 target price on shares of Robinhood Markets in a report on Thursday, May 1st. Citigroup cut their price target on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Barclays cut their price target on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Cantor Fitzgerald cut their price target on Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Finally, Compass Point started coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price target on the stock. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.41.

Robinhood Markets Stock Performance

HOOD opened at $61.76 on Friday. The business’s 50-day simple moving average is $45.27 and its 200-day simple moving average is $43.65. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The stock has a market capitalization of $54.69 billion, a P/E ratio of 39.34, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The firm had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same quarter last year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was up 50.0% on a year-over-year basis. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.