Cannon Global Investment Management LLC Makes New $410,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cannon Global Investment Management LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,000 shares of the company's stock, valued at approximately $410,000.

Other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company's stock valued at $330,914,000 after acquiring an additional 3,368,118 shares in the last quarter. State Street Corp lifted its holdings in Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company's stock worth $317,536,000 after purchasing an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC boosted its stake in Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company's stock worth $271,708,000 after purchasing an additional 1,895,427 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after purchasing an additional 138,267 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Robinhood Markets by 19.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company's stock valued at $179,463,000 after buying an additional 739,631 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Remove Ads

Robinhood Markets Stock Down 1.7 %

HOOD traded down $0.74 on Thursday, reaching $43.99. 51,775,060 shares of the company traded hands, compared to its average volume of 21,530,189. The company has a market cap of $38.95 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The firm has a fifty day simple moving average of $49.29 and a two-hundred day simple moving average of $37.91. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91.

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 (EPS) 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, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on HOOD. Needham & Company LLC boosted their target price on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Morgan Stanley increased their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Barclays lifted their target price on Robinhood Markets from $54.00 to $76.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft decreased 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, The Goldman Sachs Group upgraded shares of Robinhood Markets from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $61.29.

Insiders Place Their Bets

In related news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the sale, the insider now directly owns 706,642 shares of the company's stock, valued at $42,942,634.34. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 228,645 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $40.37, for a total value of $9,230,398.65. Following the completion of the transaction, the director now directly owns 5,042 shares of the company's stock, valued at $203,545.54. The trade was a 97.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,955,655 shares of company stock valued at $143,072,448. 19.95% of the stock is owned by company insiders.

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.