EULAV Asset Management Sells 120,000 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

EULAV Asset Management lowered its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 21.8% during the 4th quarter, HoldingsChannel reports. The firm owned 430,000 shares of the company’s stock after selling 120,000 shares during the period. EULAV Asset Management’s holdings in Robinhood Markets were worth $16,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets in the fourth quarter valued at approximately $26,000. Spire Wealth Management increased its position in shares of Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after purchasing an additional 549 shares during the last quarter. HM Payson & Co. raised its holdings in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares in the last quarter. True Wealth Design LLC bought a new stake in Robinhood Markets in the 3rd quarter worth approximately $30,000. Finally, Eastern Bank purchased a new stake in Robinhood Markets in the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HOOD. JPMorgan Chase & Co. raised shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $20.00 to $43.00 in a research note on Tuesday, January 7th. Raymond James began coverage on shares of Robinhood Markets in a research report on Wednesday. They set a “market perform” rating for the company. KeyCorp lifted their price objective on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Mizuho increased their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday. Finally, Keefe, Bruyette & Woods lifted their price target on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.67.

Robinhood Markets Trading Up 5.1 %

Shares of Robinhood Markets stock opened at $55.86 on Friday. The company’s fifty day simple moving average is $43.49 and its two-hundred day simple moving average is $31.13. Robinhood Markets, Inc. has a 12-month low of $11.00 and a 12-month high of $55.98. The company has a market cap of $49.38 billion, a P/E ratio of 94.68, a PEG ratio of 0.70 and a beta of 2.13.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 186,514 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the sale, the director now directly owns 2,521 shares of the company’s stock, valued at $96,125.73. This represents a 98.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Quirk sold 19,861 shares of the stock in a transaction dated Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the transaction, the insider now owns 395,166 shares of the company’s stock, valued at approximately $14,834,531.64. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,857,561 shares of company stock worth $159,976,719 over the last 90 days. 19.95% of the stock is owned by company insiders.

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.