Cullinan Associates Inc. Purchases New Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cullinan Associates Inc. bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,800 shares of the company's stock, valued at approximately $253,000.

A number of other institutional investors have also recently made changes to their positions in HOOD. The Manufacturers Life Insurance Company raised its holdings in shares of Robinhood Markets by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 139,902 shares of the company's stock worth $3,177,000 after buying an additional 11,146 shares during the period. Creative Planning boosted its position in Robinhood Markets by 142.8% during the 2nd quarter. Creative Planning now owns 26,290 shares of the company's stock valued at $597,000 after acquiring an additional 15,464 shares in the last quarter. NewEdge Advisors LLC grew its stake in Robinhood Markets by 58,832.8% in the second quarter. NewEdge Advisors LLC now owns 39,485 shares of the company's stock valued at $897,000 after purchasing an additional 39,418 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Robinhood Markets by 26.2% during the 2nd quarter. Cetera Investment Advisers now owns 66,341 shares of the company's stock worth $1,507,000 after acquiring an additional 13,792 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Robinhood Markets in the second quarter worth $996,000. Institutional investors own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

HOOD has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on Robinhood Markets from $24.00 to $38.00 and gave the company a "market perform" rating in a research report on Friday, December 20th. Sanford C. Bernstein increased their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Citigroup boosted their target price on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. Raymond James started coverage on shares of Robinhood Markets in a report on Wednesday. They issued a "market perform" rating for the company. Finally, Morgan Stanley boosted their price objective on shares of Robinhood Markets from $55.00 to $64.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $43.73.

Robinhood Markets Price Performance

HOOD stock traded up $1.62 during trading on Wednesday, hitting $54.20. 16,609,957 shares of the company traded hands, compared to its average volume of 20,669,109. Robinhood Markets, Inc. has a 1 year low of $10.53 and a 1 year high of $54.33. The stock's 50-day simple moving average is $42.49 and its 200 day simple moving average is $30.59. The company has a market cap of $47.91 billion, a PE ratio of 91.87, a P/E/G ratio of 0.70 and a beta of 2.13.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at $36,462,727.20. The trade was a 3.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the transaction, the chief technology officer now directly owns 11,752 shares of the company's stock, valued at $445,635.84. The trade was a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,963,436 shares of company stock valued at $163,152,969 in the last three months. 19.95% of the stock is currently 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.