Price T Rowe Associates Inc. MD Buys 3,994,745 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Price T Rowe Associates Inc. MD boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 335.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,185,225 shares of the company's stock after buying an additional 3,994,745 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.59% of Robinhood Markets worth $193,202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quantessence Capital LLC bought a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $1,055,000. Hunting Hill Global Capital LLC purchased a new position in Robinhood Markets in the fourth quarter worth $456,000. Stifel Financial Corp grew its stake in Robinhood Markets by 646.9% in the 4th quarter. Stifel Financial Corp now owns 196,578 shares of the company's stock valued at $7,324,000 after purchasing an additional 170,259 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Robinhood Markets by 218.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 28,141 shares of the company's stock valued at $1,049,000 after purchasing an additional 19,294 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in shares of Robinhood Markets by 4.3% during the 4th quarter. MML Investors Services LLC now owns 54,052 shares of the company's stock worth $2,014,000 after purchasing an additional 2,213 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the sale, the chief technology officer now directly owns 17,559 shares of the company's stock, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,234,584 shares of company stock worth $109,755,759. 19.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on HOOD shares. Piper Sandler raised their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Compass Point started coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. 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. Finally, Barclays cut their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $53.88.

Robinhood Markets Price Performance

NASDAQ HOOD traded down $0.52 during trading on Monday, reaching $48.93. The company's stock had a trading volume of 34,992,014 shares, compared to its average volume of 24,976,475. The stock has a market capitalization of $43.33 billion, a PE ratio of 31.17, a P/E/G ratio of 1.05 and a beta of 2.17. The firm has a fifty day moving average of $43.49 and a 200 day moving average of $41.00. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. Research analysts expect 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.