Avanza Fonder AB Buys Shares of 69,951 Robinhood Markets, Inc. (NASDAQ:HOOD)

Avanza Fonder AB purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 69,951 shares of the company's stock, valued at approximately $2,606,000.

Several other hedge funds have also bought and sold shares of HOOD. HM Payson & Co. lifted its stake in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company's stock valued at $28,000 after buying an additional 410 shares in the last quarter. True Wealth Design LLC acquired a new position in Robinhood Markets during the 3rd quarter valued at about $30,000. Eastern Bank bought a new stake in Robinhood Markets during the 3rd quarter worth approximately $30,000. ORG Wealth Partners LLC bought a new stake in Robinhood Markets during the 3rd quarter worth approximately $33,000. Finally, Connective Portfolio Management LLC purchased a new stake in shares of Robinhood Markets in the third quarter worth approximately $47,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HOOD. KeyCorp upped their price target on Robinhood Markets from $30.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Citigroup increased their target price on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, January 10th. JMP Securities boosted their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a "market outperform" rating in a report on Tuesday, November 12th. Piper Sandler upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an "overweight" rating in a research report on Monday, December 2nd. Finally, Sanford C. Bernstein lifted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.07.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $45.27, for a total value of $4,113,503.82. Following the sale, the director now directly owns 5,042 shares of the company's stock, valued at approximately $228,251.34. This represents a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total transaction of $477,750.00. Following the completion of the transaction, the insider now owns 1,106,955 shares of the company's stock, valued at $42,307,820.10. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,700,658 shares of company stock worth $140,360,682 over the last 90 days. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets Stock Performance

NASDAQ HOOD traded up $2.07 during trading on Friday, hitting $48.15. 35,128,062 shares of the company's stock traded hands, compared to its average volume of 17,235,492. The stock has a market capitalization of $42.56 billion, a price-to-earnings ratio of 81.61, a PEG ratio of 0.58 and a beta of 2.07. Robinhood Markets, Inc. has a 12-month low of $10.38 and a 12-month high of $49.27. The business has a 50 day moving average of $38.63 and a 200-day moving average of $28.18.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The business had revenue of $637.00 million for the quarter, compared to analysts' expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The business's quarterly revenue was up 36.4% compared to the same quarter last year. On average, analysts expect that Robinhood Markets, Inc. will post 0.91 EPS for the current year.

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.