Magnetar Financial LLC acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 97,196 shares of the company's stock, valued at approximately $3,622,000.
Other institutional investors also recently modified their holdings of the company. Trivest Advisors Ltd raised its holdings in shares of Robinhood Markets by 145.6% in the 4th quarter. Trivest Advisors Ltd now owns 1,525,400 shares of the company's stock worth $56,836,000 after acquiring an additional 904,400 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Robinhood Markets in the fourth quarter worth approximately $141,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $463,000. Xponance Inc. boosted its position in shares of Robinhood Markets by 20.0% during the fourth quarter. Xponance Inc. now owns 62,227 shares of the company's stock valued at $2,319,000 after buying an additional 10,355 shares during the last quarter. Finally, Evoke Wealth LLC bought a new stake in Robinhood Markets during the fourth quarter worth $264,000. 93.27% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
HOOD has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on Robinhood Markets from $38.00 to $60.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price target 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. Mizuho upped their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Cantor Fitzgerald started coverage on Robinhood Markets in a research note on Thursday, March 6th. They issued an "overweight" rating and a $69.00 target price on the stock. Finally, Morgan Stanley increased their price target on Robinhood Markets from $64.00 to $90.00 and gave the company an "overweight" rating in a research 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $61.29.
Check Out Our Latest Stock Analysis on HOOD
Insiders Place Their Bets
In other news, CEO Vladimir Tenev sold 750,000 shares of the company's 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 2,679,251 shares of company stock worth $130,979,560 in the last three months. 19.95% of the stock is currently owned by corporate insiders.
Robinhood Markets Trading Up 9.0 %
Shares of NASDAQ HOOD traded up $4.00 during mid-day trading on Monday, hitting $48.36. The company had a trading volume of 50,563,276 shares, compared to its average volume of 21,212,419. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The company has a market capitalization of $42.82 billion, a price-to-earnings ratio of 30.80, a P/E/G ratio of 1.05 and a beta of 2.14. The stock's 50-day moving average price is $49.04 and its 200-day moving average price is $37.41.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results 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 return on equity of 13.53% and a net margin of 47.81%. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current 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.
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