Vestcor Inc Grows Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Vestcor Inc boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 43.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,425 shares of the company’s stock after buying an additional 3,164 shares during the period. Vestcor Inc’s holdings in Robinhood Markets were worth $388,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Toronto Dominion Bank boosted its position in shares of Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after acquiring an additional 16,219 shares during the last quarter. IFP Advisors Inc raised its stake in Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock worth $164,000 after purchasing an additional 3,769 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at $634,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Robinhood Markets by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after buying an additional 138,267 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its holdings in shares of Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after buying an additional 92,613 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HOOD shares. JMP Securities boosted their price target on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Mizuho lifted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. 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 research report on Wednesday, March 12th. Finally, Barclays raised their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.31.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $42.02 on Tuesday. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The firm has a market capitalization of $37.21 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.05 and a beta of 2.14. The company has a 50-day simple moving average of $48.87 and a 200-day simple moving average of $36.76.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 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%. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the transaction, the chief technology officer now directly owns 17,559 shares of the company’s stock, valued at $821,936.79. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,985,127 shares of company stock worth $142,455,378 over the last ninety days. 19.95% of the stock is currently owned by corporate insiders.

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.