OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,876 shares of the company's stock, valued at approximately $463,000.
A number of other institutional investors have also modified their holdings of the stock. Azora Capital LP bought a new position in Robinhood Markets in the third quarter worth approximately $79,780,000. FMR LLC grew its position in shares of Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company's stock worth $330,914,000 after buying an additional 3,368,118 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Robinhood Markets during the fourth quarter valued at $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 purchased a new stake in Robinhood Markets in the fourth quarter worth about $71,318,000. 93.27% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have commented on HOOD. Morgan Stanley raised their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. The Goldman Sachs Group upgraded Robinhood Markets from a "neutral" rating to a "buy" rating and upped their target price for the stock from $40.00 to $46.00 in a report on Friday, December 6th. JMP Securities lifted their price target on Robinhood Markets from $60.00 to $77.00 and gave the company a "market outperform" rating in a report on Thursday, February 13th. Compass Point began coverage on Robinhood Markets in a research note on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective for the company. Finally, Barclays lifted their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.29.
Check Out Our Latest Stock Analysis on HOOD
Insider Buying and Selling
In other news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $42.64, for a total transaction of $250,552.64. Following the transaction, the chief technology officer now owns 5,876 shares of the company's stock, valued at $250,552.64. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,679,251 shares of company stock worth $130,979,560. 19.95% of the stock is owned by company insiders.
Robinhood Markets Stock Performance
Shares of NASDAQ HOOD traded up $4.00 during mid-day trading on Monday, hitting $48.36. The stock had a trading volume of 50,563,276 shares, compared to its average volume of 21,212,261. The firm has a market cap of $42.82 billion, a PE ratio of 30.80, a PEG ratio of 1.05 and a beta of 2.14. The company has a 50 day moving average of $49.04 and a two-hundred day moving average of $37.41. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating 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%. Equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.
About Robinhood Markets
(
Free Report)
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.
Further Reading
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