Nia Impact Advisors LLC Invests $4.41 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

Nia Impact Advisors LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 118,397 shares of the company’s stock, valued at approximately $4,411,000. Robinhood Markets makes up about 1.4% of Nia Impact Advisors LLC’s holdings, making the stock its 23rd largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. purchased a new position in Robinhood Markets during the third quarter worth about $6,321,000. Wedmont Private Capital purchased a new position in Robinhood Markets during the fourth quarter worth about $386,000. Pallas Capital Advisors LLC raised its stake in Robinhood Markets by 51.3% during the fourth quarter. Pallas Capital Advisors LLC now owns 31,657 shares of the company’s stock worth $1,180,000 after purchasing an additional 10,727 shares during the period. AdvisorNet Financial Inc raised its stake in Robinhood Markets by 34.6% during the fourth quarter. AdvisorNet Financial Inc now owns 3,372 shares of the company’s stock worth $126,000 after purchasing an additional 867 shares during the period. Finally, SeaCrest Wealth Management LLC purchased a new position in Robinhood Markets during the fourth quarter worth about $254,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $62.57 on Wednesday. The company has a market cap of $55.40 billion, a P/E ratio of 39.85, a PEG ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The firm has a fifty day moving average of $43.92 and a two-hundred day moving average of $42.96.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The firm had revenue of $927.00 million for the quarter, compared to analysts’ expectations of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The firm’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 24,311 shares of the company’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $54.93, for a total transaction of $1,335,403.23. Following the transaction, the insider now directly owns 299,349 shares in the company, valued at approximately $16,443,240.57. This trade represents a 7.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,362,194 shares of company stock valued at $116,234,743 in the last ninety days. 14.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup dropped their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Cantor Fitzgerald dropped their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Mizuho lifted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Piper Sandler lifted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, KeyCorp dropped their price target on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.41.

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.