59,161 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 59,161 shares of the company's stock, valued at approximately $2,204,000.

A number of other large investors have also added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets in the 4th quarter valued at about $26,000. HM Payson & Co. raised its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company's stock valued at $28,000 after acquiring an additional 410 shares during the last quarter. Eastern Bank purchased a new stake in Robinhood Markets in the 3rd quarter valued at $30,000. True Wealth Design LLC acquired a new position in Robinhood Markets in the third quarter valued at approximately $30,000. Finally, Silicon Valley Capital Partners purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $37,000. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Wolfe Research downgraded Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday. Raymond James initiated coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a "market perform" rating for the company. Needham & Company LLC increased their target price on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, KeyCorp lifted their price target on Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and an average price target of $59.53.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 522,180 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. This represents a 99.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company'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 value of $477,750.00. Following the transaction, the insider now directly owns 1,106,955 shares in the company, valued at approximately $42,307,820.10. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,520,607 shares of company stock valued at $200,784,430. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Down 8.0 %

Robinhood Markets stock traded down $4.46 during midday trading on Friday, reaching $51.60. The stock had a trading volume of 33,522,577 shares, compared to its average volume of 25,542,662. Robinhood Markets, Inc. has a 12 month low of $13.59 and a 12 month high of $66.91. The firm has a market capitalization of $45.61 billion, a PE ratio of 32.87, a P/E/G ratio of 1.11 and a beta of 2.13. The firm's 50-day moving average price is $47.19 and its 200 day moving average price is $33.56.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

About Robinhood Markets

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.