Tocqueville Asset Management L.P. Reduces Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Tocqueville Asset Management L.P. reduced its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 13.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,550 shares of the company’s stock after selling 1,150 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Robinhood Markets were worth $281,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after buying an additional 16,219 shares in the last quarter. IFP Advisors Inc lifted its holdings in Robinhood Markets by 601.1% during the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock worth $164,000 after buying an additional 3,769 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $634,000. Charles Schwab Investment Management Inc. increased its position in shares of Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after purchasing an additional 138,267 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its position in shares of Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after purchasing an additional 92,613 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $43.66 on Friday. The firm has a market cap of $38.66 billion, a PE ratio of 27.81, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The firm’s fifty day moving average is $48.96 and its two-hundred day moving average is $36.99.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results 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 net margin of 47.81% and a return on equity of 13.53%. Research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

HOOD has been the topic of a number of recent analyst reports. Raymond James initiated coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating on the stock. JMP Securities increased their price objective on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. Citigroup increased their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods increased their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, Needham & Company LLC increased their target price on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the sale, the director now owns 5,042 shares of the company’s stock, valued at $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,979,251 shares of company stock valued at $142,232,560. Corporate insiders own 19.95% of the company’s stock.

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.