Evolution Wealth Advisors LLC Has $46.44 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Evolution Wealth Advisors LLC trimmed its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,644,889 shares of the company’s stock after selling 2,385 shares during the period. Robinhood Markets makes up about 9.3% of Evolution Wealth Advisors LLC’s portfolio, making the stock its 2nd largest holding. Evolution Wealth Advisors LLC owned 0.42% of Robinhood Markets worth $46,436,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Robinhood Markets by 4.5% during the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock worth $561,732,000 after purchasing an additional 2,459,702 shares during the period. ARK Investment Management LLC boosted its position in shares of Robinhood Markets by 6.4% during the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock worth $445,087,000 after purchasing an additional 2,101,325 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Robinhood Markets by 9.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock worth $372,081,000 after purchasing an additional 2,517,012 shares in the last quarter. BlackRock Inc. boosted its position in shares of Robinhood Markets by 4.1% during the second quarter. BlackRock Inc. now owns 23,981,614 shares of the company’s stock worth $239,337,000 after purchasing an additional 943,515 shares in the last quarter. Finally, State Street Corp lifted its position in Robinhood Markets by 9.2% in the 2nd quarter. State Street Corp now owns 8,333,375 shares of the company’s stock valued at $83,167,000 after acquiring an additional 701,836 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Robinhood Markets from $11.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Barclays increased their price objective on shares of Robinhood Markets from $11.00 to $16.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $12.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, March 19th. Piper Sandler increased their price objective on shares of Robinhood Markets from $12.50 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods began coverage on shares of Robinhood Markets in a research note on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.81.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 500,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.12, for a total value of $7,560,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.59, for a total value of $97,950.00. Following the transaction, the chief financial officer now directly owns 1,002,407 shares in the company, valued at approximately $19,637,153.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 500,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.12, for a total value of $7,560,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,212,150 shares of company stock valued at $33,495,819 over the last quarter. Insiders own 20.81% of the company’s stock.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded down $0.45 during midday trading on Friday, reaching $16.63. 9,526,598 shares of the company’s stock traded hands, compared to its average volume of 14,734,814. The company has a fifty day simple moving average of $16.83 and a two-hundred day simple moving average of $12.61. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $20.55. The company has a market cap of $14.54 billion, a P/E ratio of -28.47 and a beta of 1.69.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. The business had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The business’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) EPS. As a group, research analysts forecast that Robinhood Markets, Inc. will post 0.29 EPS for the current fiscal year.

About Robinhood Markets

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.