Grant GrossMendelsohn LLC Makes New $400,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Grant GrossMendelsohn LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,738 shares of the company's stock, valued at approximately $400,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its holdings in Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company's stock valued at $89,410,000 after acquiring an additional 3,817,355 shares during the period. Azora Capital LP acquired a new stake in Robinhood Markets in the 3rd quarter valued at $79,780,000. FMR LLC increased its holdings in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company's stock worth $330,914,000 after acquiring an additional 3,368,118 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Robinhood Markets by 486.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company's stock worth $103,906,000 after acquiring an additional 2,313,213 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company's stock valued at $271,708,000 after purchasing an additional 1,895,427 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Trading Up 4.5 %

Robinhood Markets stock traded up $2.07 during mid-day trading on Friday, hitting $48.15. The company's stock had a trading volume of 35,128,062 shares, compared to its average volume of 17,235,492. The firm has a market capitalization of $42.56 billion, a PE ratio of 81.61, a price-to-earnings-growth ratio of 0.58 and a beta of 2.07. Robinhood Markets, Inc. has a 1 year low of $10.38 and a 1 year high of $49.27. The stock's fifty day moving average is $38.63 and its two-hundred day moving average is $28.18.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million during 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%. Robinhood Markets's revenue was up 36.4% on a year-over-year basis. During the same period last year, the firm posted ($0.09) earnings per share. On average, equities analysts expect that Robinhood Markets, Inc. will post 0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $42.64, for a total value of $250,552.64. Following the completion of the transaction, the chief technology officer now owns 5,876 shares of the company's stock, valued at $250,552.64. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 90,866 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was 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 in the company, valued at $228,251.34. This represents a 94.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,700,658 shares of company stock worth $140,360,682 over the last ninety days. Corporate insiders own 19.95% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on HOOD shares. Citigroup upped their price target 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. Barclays raised their target price on Robinhood Markets from $49.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods boosted their price target on Robinhood Markets from $24.00 to $38.00 and gave the stock a "market perform" rating in a research report on Friday, December 20th. KeyCorp raised their price objective on Robinhood Markets from $30.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised shares of Robinhood Markets from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $20.00 to $43.00 in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.07.

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.