DnB Asset Management AS Acquires 28,725 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

DnB Asset Management AS boosted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 33.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,839 shares of the company's stock after acquiring an additional 28,725 shares during the period. DnB Asset Management AS's holdings in Robinhood Markets were worth $4,242,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets in the 4th quarter valued at about $26,000. Creative Financial Designs Inc. ADV boosted its stake in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after acquiring an additional 750 shares during the last quarter. Silicon Valley Capital Partners acquired a new stake in Robinhood Markets during the 4th quarter worth $37,000. Bogart Wealth LLC bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $37,000. Finally, Spire Wealth Management boosted its position in shares of Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after purchasing an additional 549 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on HOOD. Cantor Fitzgerald assumed coverage on Robinhood Markets in a research note on Thursday, March 6th. They issued an "overweight" rating and a $69.00 target price on the stock. The Goldman Sachs Group raised shares of Robinhood Markets from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Morgan Stanley upped their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Piper Sandler lifted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, JMP Securities raised their price target on Robinhood Markets from $60.00 to $77.00 and gave the stock a "market outperform" rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $60.24.

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Insiders Place Their Bets

In other Robinhood Markets news, insider Steven M. Quirk sold 123,272 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.80, for a total value of $6,878,577.60. Following the transaction, the insider now directly owns 298,826 shares of the company's stock, valued at $16,674,490.80. This represents a 29.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $40.45, for a total value of $4,045,000.00. Following the completion of the transaction, the insider now directly owns 731,642 shares in the company, valued at $29,594,918.90. The trade was a 12.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,205,655 shares of company stock valued at $113,702,448 over the last 90 days. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Price Performance

HOOD stock traded down $4.35 during mid-day trading on Thursday, reaching $38.33. The company had a trading volume of 36,090,777 shares, compared to its average volume of 22,178,926. The company has a market capitalization of $33.94 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The stock has a 50 day simple moving average of $48.73 and a two-hundred day simple moving average of $38.63.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 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.