Trivest Advisors Ltd Has $56.84 Million Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Trivest Advisors Ltd boosted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 145.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,525,400 shares of the company’s stock after acquiring an additional 904,400 shares during the quarter. Robinhood Markets accounts for approximately 2.6% of Trivest Advisors Ltd’s investment portfolio, making the stock its 13th biggest holding. Trivest Advisors Ltd owned approximately 0.17% of Robinhood Markets worth $56,836,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Dorsey & Whitney Trust CO LLC increased its holdings in Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after buying an additional 233 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after purchasing an additional 277 shares during the last quarter. Commerce Bank lifted its stake in Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after buying an additional 423 shares during the period. Spire Wealth Management raised its holdings in shares of Robinhood Markets by 104.6% during the fourth 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 period. Finally, Allworth Financial LP boosted its position in shares of Robinhood Markets by 130.7% during the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock worth $42,000 after purchasing an additional 643 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HOOD. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. KeyCorp increased their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Cantor Fitzgerald started coverage on Robinhood Markets in a research report on Thursday, March 6th. They set an “overweight” rating and a $69.00 target price for the company. Finally, Keefe, Bruyette & Woods boosted their target price on Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.31.

Insiders Place Their Bets

In related 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 transaction of $6,878,577.60. Following the transaction, the insider now directly owns 298,826 shares in the company, valued at approximately $16,674,490.80. The trade was a 29.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the sale, the insider now directly owns 806,955 shares of the company’s stock, valued at $30,268,882.05. This represents a 27.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,985,127 shares of company stock valued at $142,455,378. 19.95% of the stock is owned by insiders.

Robinhood Markets Stock Down 4.6 %

NASDAQ:HOOD opened at $40.10 on Wednesday. The stock has a market cap of $35.51 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.05 and a beta of 2.14. The company’s 50 day moving average price is $48.86 and its 200-day moving average price is $36.90. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91.

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