Ossiam Acquires 582,866 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Ossiam lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 64,834.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 583,765 shares of the company's stock after buying an additional 582,866 shares during the period. Ossiam owned approximately 0.07% of Robinhood Markets worth $21,751,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the completion of the sale, the chief technology officer now owns 5,853 shares in the company, valued at $201,987.03. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 223,072 shares of Robinhood Markets stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $41.24, for a total value of $9,199,489.28. Following the sale, the director now owns 7,863 shares in the company, valued at $324,270.12. The trade was a 96.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,193,327 shares of company stock valued at $107,903,039 over the last 90 days. Company insiders own 19.95% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on HOOD. JMP Securities cut their target price on Robinhood Markets from $77.00 to $70.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley lowered Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 price objective on the stock. in a research note on Tuesday, April 8th. KeyCorp lowered their target price on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday. Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and an average target price of $53.88.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD traded up $3.00 during midday trading on Wednesday, reaching $45.09. The stock had a trading volume of 37,992,270 shares, compared to its average volume of 24,506,254. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The company's 50 day moving average price is $44.46 and its 200 day moving average price is $40.42. The firm has a market cap of $39.93 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued 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%. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.