8,030 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Acquired by West Michigan Advisors LLC

West Michigan Advisors LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,030 shares of the company’s stock, valued at approximately $299,000.

Other large investors also recently added to or reduced their stakes in the company. Creative Planning grew its holdings in shares of Robinhood Markets by 34.6% during the third quarter. Creative Planning now owns 35,384 shares of the company’s stock valued at $829,000 after buying an additional 9,094 shares in the last quarter. Raymond James & Associates lifted its stake in Robinhood Markets by 76.6% in the 3rd quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock worth $2,325,000 after acquiring an additional 43,075 shares in the last quarter. International Assets Investment Management LLC boosted its position in Robinhood Markets by 301.5% during the 3rd quarter. International Assets Investment Management LLC now owns 7,026 shares of the company’s stock worth $165,000 after acquiring an additional 5,276 shares during the period. HM Payson & Co. grew its stake in 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 acquiring an additional 410 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Robinhood Markets by 94.0% in the 3rd quarter. US Bancorp DE now owns 27,751 shares of the company’s stock valued at $650,000 after purchasing an additional 13,448 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at $316,133.40. The trade was a 99.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total value of $477,750.00. Following the completion of the sale, the insider now directly owns 1,106,955 shares of the company’s stock, valued at $42,307,820.10. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,624,018 shares of company stock valued at $206,917,425 in the last quarter. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

HOOD opened at $50.10 on Friday. The firm has a market cap of $44.29 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. The business has a 50 day moving average price of $48.34 and a 200 day moving average price of $34.99. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Raymond James began coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating for the company. Barclays lifted 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. Sanford C. Bernstein upped their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.53.

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.