Udine Wealth Management Inc. Boosts Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Udine Wealth Management Inc. increased its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 70.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 78,447 shares of the company’s stock after acquiring an additional 32,357 shares during the quarter. Robinhood Markets makes up approximately 1.9% of Udine Wealth Management Inc.’s holdings, making the stock its 13th largest holding. Udine Wealth Management Inc.’s holdings in Robinhood Markets were worth $2,923,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Merit Financial Group LLC bought a new stake in shares of Robinhood Markets in the 4th quarter worth $668,000. Grant GrossMendelsohn LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at $400,000. Avanza Fonder AB bought a new stake in Robinhood Markets in the 4th quarter worth about $2,606,000. Hennessy Advisors Inc. purchased a new position in Robinhood Markets in the 4th quarter worth about $1,304,000. Finally, Ritholtz Wealth Management bought a new position in Robinhood Markets during the 4th quarter valued at about $375,000. 93.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HOOD has been the subject of several research reports. JPMorgan Chase & Co. raised shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. JMP Securities boosted their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Piper Sandler raised their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Citigroup upped their price objective on Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.07.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $48.15 on Friday. The stock has a market capitalization of $42.56 billion, a P/E ratio of 81.61, a P/E/G ratio of 0.58 and a beta of 2.07. Robinhood Markets, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $49.27. The company’s 50-day simple moving average is $38.63 and its 200-day simple moving average is $28.22.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) EPS. On average, research analysts forecast that Robinhood Markets, Inc. will post 0.91 EPS for the current year.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the transaction, the chief technology officer now owns 11,752 shares in the company, valued at $445,635.84. This represents a 33.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $24.21, for a total value of $6,052,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,700,658 shares of company stock worth $140,360,682. 19.95% of the stock is 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.