Clearbridge Investments LLC Acquires Shares of 1,348,839 Robinhood Markets, Inc. (NASDAQ:HOOD)

Clearbridge Investments LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,348,839 shares of the company's stock, valued at approximately $50,258,000. Clearbridge Investments LLC owned 0.15% of Robinhood Markets as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $26,000. True Wealth Design LLC acquired a new position in Robinhood Markets in the third quarter valued at about $30,000. Creative Financial Designs Inc. ADV lifted its stake in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after buying an additional 750 shares during the period. Silicon Valley Capital Partners bought a new position in Robinhood Markets during the fourth quarter worth about $37,000. Finally, Bogart Wealth LLC acquired a new position in shares of Robinhood Markets during the 4th quarter worth about $37,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Down 9.5 %

Shares of Robinhood Markets stock traded down $4.04 during trading hours on Thursday, reaching $38.64. 52,649,295 shares of the company's stock were exchanged, compared to its average volume of 22,241,281. The stock has a market cap of $34.21 billion, a P/E ratio of 24.54, a P/E/G ratio of 1.05 and a beta of 2.14. The company has a 50 day moving average of $48.73 and a two-hundred day moving average of $38.63. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91.

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Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly 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, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the sale, the chief technology officer now directly owns 17,559 shares in the company, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,205,655 shares of company stock valued at $113,702,448. 19.95% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HOOD has been the topic of several recent analyst reports. Raymond James started coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a "market perform" rating on the stock. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Piper Sandler boosted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Needham & Company LLC reduced their target price on Robinhood Markets from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, JMP Securities increased their price target on Robinhood Markets from $60.00 to $77.00 and gave the stock a "market outperform" rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.24.

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.