AGF Management Ltd. Invests $55.44 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

AGF Management Ltd. bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,487,853 shares of the company's stock, valued at approximately $55,437,000. AGF Management Ltd. owned approximately 0.17% of Robinhood Markets as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. US Bancorp DE increased its stake in Robinhood Markets by 94.0% in the 3rd quarter. US Bancorp DE now owns 27,751 shares of the company's stock worth $650,000 after acquiring an additional 13,448 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Robinhood Markets by 834.5% in the third quarter. Farther Finance Advisors LLC now owns 6,504 shares of the company's stock valued at $152,000 after purchasing an additional 5,808 shares in the last quarter. Axxcess Wealth Management LLC increased its position in Robinhood Markets by 3.1% in the third quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company's stock worth $463,000 after purchasing an additional 598 shares during the last quarter. GSA Capital Partners LLP raised its stake in Robinhood Markets by 182.6% during the third quarter. GSA Capital Partners LLP now owns 80,419 shares of the company's stock valued at $1,883,000 after purchasing an additional 51,959 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in Robinhood Markets during the third quarter valued at $770,000. 93.27% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

HOOD has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Cantor Fitzgerald assumed coverage on Robinhood Markets in a research report on Thursday, March 6th. They set an "overweight" rating and a $69.00 price objective on the stock. JMP Securities lifted their target price on Robinhood Markets from $60.00 to $77.00 and gave the stock a "market outperform" rating in a report on Thursday, February 13th. Raymond James assumed coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a "market perform" rating on the stock. Finally, Sanford C. Bernstein raised their price target on Robinhood Markets from $30.00 to $51.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $60.13.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD traded up $0.73 during trading on Tuesday, reaching $36.36. 69,358,432 shares of the company were exchanged, compared to its average volume of 32,790,262. The business's fifty day simple moving average is $48.96 and its 200-day simple moving average is $36.25. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The firm has a market capitalization of $32.20 billion, a PE ratio of 23.16, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results 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%. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the transaction, the chief technology officer now directly owns 17,559 shares of the company's stock, valued at $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders sold 3,171,641 shares of company stock worth $149,567,157 over the last three months. 19.95% of the stock is owned by corporate insiders.

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.