Axxcess Wealth Management LLC Sells 6,888 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Axxcess Wealth Management LLC decreased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 34.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,885 shares of the company’s stock after selling 6,888 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Robinhood Markets were worth $480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Azora Capital LP bought a new stake in Robinhood Markets during the 3rd quarter valued at about $79,780,000. FMR LLC grew its stake in Robinhood Markets by 31.3% in 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. purchased a new position in Robinhood Markets during the 4th quarter worth $90,869,000. Assenagon Asset Management S.A. raised its holdings 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 bought a new stake in shares of Robinhood Markets in the 4th quarter valued at about $71,318,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HOOD. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. JMP Securities raised their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Mizuho lifted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.29.

Insider Activity

In other news, insider Steven M. Quirk sold 123,272 shares of Robinhood Markets stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the completion of the sale, the insider now directly owns 298,826 shares of the company’s stock, valued at approximately $16,674,490.80. The trade was a 29.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,979,251 shares of company stock valued at $142,232,560. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 1.6 %

HOOD stock opened at $44.36 on Friday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The stock has a market cap of $39.28 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The business has a fifty day moving average of $49.04 and a two-hundred day moving average of $37.16.

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

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.