iA Global Asset Management Inc. Buys Shares of 136,910 Robinhood Markets, Inc. (NASDAQ:HOOD)

iA Global Asset Management Inc. purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 136,910 shares of the company's stock, valued at approximately $5,101,000.

Several other large investors have also recently made changes to their positions in the stock. Azora Capital LP purchased a new position in shares of Robinhood Markets during the third quarter worth $79,780,000. FMR LLC lifted its stake in Robinhood Markets by 31.3% during 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. Raymond James Financial Inc. purchased a new position in Robinhood Markets during the 4th quarter valued at about $90,869,000. Assenagon Asset Management S.A. grew its position in Robinhood Markets by 486.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company's stock valued at $103,906,000 after acquiring an additional 2,313,213 shares in the last quarter. Finally, TimesSquare Capital Management LLC purchased a new stake in Robinhood Markets during the fourth quarter worth about $71,318,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

HOOD stock traded up $4.00 during midday trading on Monday, reaching $48.36. 50,563,276 shares of the company were exchanged, compared to its average volume of 21,212,419. The company has a market cap of $42.82 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The stock's 50-day simple moving average is $49.04 and its 200 day simple moving average is $37.41.

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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, topping the consensus estimate 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, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the transaction, the insider now directly owns 822,893 shares of the company's stock, valued at approximately $40,338,214.86. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the transaction, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. This represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,679,251 shares of company stock worth $130,979,560. Corporate insiders own 19.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HOOD. Piper Sandler raised their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. JMP Securities boosted their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a "market outperform" rating in a research note on Thursday, February 13th. Wolfe Research cut Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Compass Point initiated coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 target price for the company. Finally, Barclays increased their price target on Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.29.

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.