StoneX Group Inc. Invests $422,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

StoneX Group Inc. bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,323 shares of the company's stock, valued at approximately $422,000.

Several other hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank boosted its stake in Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company's stock worth $1,602,000 after acquiring an additional 16,219 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Robinhood Markets by 601.1% in the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after purchasing an additional 3,769 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Robinhood Markets in the 4th quarter worth approximately $634,000. Charles Schwab Investment Management Inc. grew its stake in shares of Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after buying an additional 138,267 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its position in Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock valued at $20,154,000 after buying an additional 92,613 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HOOD has been the topic of a number of recent research reports. Citigroup reduced their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday. Barclays raised their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a "neutral" rating to a "buy" rating and upped their target price for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Mizuho increased their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $60.24.

Remove Ads

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 legal filing with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at $36,462,727.20. The trade was a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,627,010 shares of company stock valued at $131,897,049 in the last ninety days. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets Trading Down 9.8 %

HOOD stock traded down $3.75 during midday trading on Friday, reaching $34.51. 80,274,797 shares of the company's stock traded hands, compared to its average volume of 22,559,134. The stock's 50-day moving average is $48.49 and its 200 day moving average is $38.62. The stock has a market cap of $30.56 billion, a P/E ratio of 21.98, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS 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.