Northside Capital Management LLC Buys New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Northside Capital Management LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,322 shares of the company's stock, valued at approximately $422,000.

A number of other large investors have also modified their holdings of HOOD. HM Payson & Co. lifted its stake in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company's stock worth $28,000 after purchasing an additional 410 shares during the period. True Wealth Design LLC bought a new position in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. Eastern Bank bought a new position in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. ORG Wealth Partners LLC acquired a new stake in Robinhood Markets in the 3rd quarter valued at $33,000. Finally, Connective Portfolio Management LLC bought a new stake in Robinhood Markets in the third quarter valued at $47,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent analyst reports. JMP Securities boosted their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a "market outperform" rating in a research note on Tuesday, November 12th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a "neutral" rating to a "buy" rating and boosted their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Citigroup raised their price objective on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. KeyCorp lifted their target price on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Finally, Morgan Stanley upgraded Robinhood Markets from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $24.00 to $55.00 in a research report on Monday, November 25th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $42.47.

Robinhood Markets Stock Up 1.1 %

HOOD stock traded up $0.52 during midday trading on Thursday, reaching $46.08. The stock had a trading volume of 18,556,134 shares, compared to its average volume of 20,391,467. The firm has a market cap of $40.73 billion, a price-to-earnings ratio of 78.10, a PEG ratio of 0.58 and a beta of 2.07. Robinhood Markets, Inc. has a twelve month low of $10.38 and a twelve month high of $46.85. The business has a fifty day simple moving average of $37.95 and a two-hundred day simple moving average of $27.87.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share 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 analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business's revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period last year, the company earned ($0.09) EPS. On average, equities analysts predict that Robinhood Markets, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 108,964 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $24.92, for a total value of $2,715,382.88. Following the completion of the transaction, the director now owns 2,521 shares in the company, valued at $62,823.32. This represents a 97.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the firm's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $24.21, for a total transaction of $6,052,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,609,792 shares of company stock valued at $136,247,178. Corporate insiders own 19.95% of the company's stock.

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.