Monetta Financial Services Inc. Invests $820,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Monetta Financial Services Inc. purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 22,000 shares of the company's stock, valued at approximately $820,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets during the fourth quarter worth about $26,000. True Wealth Design LLC bought a new position in shares of Robinhood Markets during the 3rd quarter valued at about $30,000. Creative Financial Designs Inc. ADV grew its stake in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares during the last quarter. Silicon Valley Capital Partners bought a new stake in shares of Robinhood Markets in the 4th quarter worth approximately $37,000. Finally, Bogart Wealth LLC acquired a new stake in Robinhood Markets during the fourth quarter valued at approximately $37,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Up 9.0 %

HOOD stock 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 21,212,482. The stock has a market capitalization of $42.82 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The company has a fifty day moving average of $49.04 and a 200 day moving average of $37.41.

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Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 228,645 shares of the company's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65. Following the sale, the director now owns 5,042 shares of the company's stock, valued at approximately $203,545.54. This trade represents a 97.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,679,251 shares of company stock valued at $130,979,560. Insiders own 19.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HOOD. Cantor Fitzgerald started coverage on Robinhood Markets in a report on Thursday, March 6th. They issued an "overweight" rating and a $69.00 price target on the stock. Piper Sandler boosted their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock 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 increased their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft cut their price objective on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.29.

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.