Atlantic Private Wealth LLC Sells 1,683 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Atlantic Private Wealth LLC cut its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 12.2% during the fourth quarter, HoldingsChannel reports. The firm owned 12,117 shares of the company’s stock after selling 1,683 shares during the period. Robinhood Markets accounts for about 0.3% of Atlantic Private Wealth LLC’s holdings, making the stock its 29th largest position. Atlantic Private Wealth LLC’s holdings in Robinhood Markets were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets in the fourth quarter worth about $26,000. True Wealth Design LLC bought a new position in shares of Robinhood Markets in the third quarter worth about $30,000. Creative Financial Designs Inc. ADV grew its holdings in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the last quarter. Silicon Valley Capital Partners bought a new position in shares of Robinhood Markets in the fourth quarter worth about $37,000. Finally, Bogart Wealth LLC bought a new position in shares of Robinhood Markets in the fourth quarter worth about $37,000. 93.27% of the stock is currently owned by institutional investors.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $445,635.84. This represents a 33.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders sold 2,985,127 shares of company stock valued at $142,455,378 in the last three months. 19.95% of the stock is owned by insiders.

Robinhood Markets Stock Up 6.7 %

Shares of Robinhood Markets stock opened at $42.80 on Thursday. The firm has a market capitalization of $37.90 billion, a P/E ratio of 27.26, a PEG ratio of 1.05 and a beta of 2.14. The company has a 50 day moving average price of $48.90 and a 200 day moving average price of $36.94. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data 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 net margin of 47.81% and a return on equity of 13.53%. As a group, 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 research analysts have recently commented on the stock. JMP Securities upped their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. upped their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. KeyCorp upped their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Raymond James started coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $61.29.

About Robinhood Markets

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.