Evoke Wealth LLC Makes New $264,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Evoke Wealth LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, Holdings Channel reports. The fund purchased 7,091 shares of the company’s stock, valued at approximately $264,000.

A number of other large investors also recently added to or reduced their stakes in HOOD. Azora Capital LP acquired a new position in Robinhood Markets during the third quarter worth $79,780,000. FMR LLC lifted its stake in Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Robinhood Markets during the fourth quarter worth $90,869,000. Assenagon Asset Management S.A. raised its stake in shares of Robinhood Markets by 486.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock valued at $103,906,000 after acquiring an additional 2,313,213 shares in the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at $71,318,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 228,645 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the sale, the director now owns 5,042 shares of the company’s stock, valued at $203,545.54. The trade was a 97.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the sale, the chief technology officer now directly owns 11,752 shares in the company, valued at $445,635.84. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,985,127 shares of company stock valued at $142,455,378 in the last quarter. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Up 6.7 %

NASDAQ HOOD opened at $42.80 on Thursday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The business’s 50-day moving average price is $48.90 and its 200 day moving average price is $36.94. The firm has a market cap of $37.90 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on HOOD shares. Raymond James started coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating on the stock. Mizuho increased their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Morgan Stanley increased their price objective on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.29.

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.