Townsquare Capital LLC Purchases New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Townsquare Capital LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,125 shares of the company's stock, valued at approximately $377,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HOOD. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets during the fourth quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV increased its stake in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares in the last quarter. Silicon Valley Capital Partners bought a new position in Robinhood Markets in the 4th quarter worth $37,000. Bogart Wealth LLC purchased a new position in Robinhood Markets during the fourth quarter valued at $37,000. Finally, Spire Wealth Management grew its holdings in Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after purchasing an additional 549 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on HOOD shares. Morgan Stanley downgraded 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. Piper Sandler lifted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Needham & Company LLC reduced their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. Finally, KeyCorp cut their price target on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average target price of $53.88.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the transaction, the chief technology officer now owns 5,853 shares in the company, valued at $201,987.03. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $55.34, for a total value of $5,028,524.44. Following the completion of the sale, the director now owns 5,042 shares in the company, valued at approximately $279,024.28. The trade was a 94.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,193,327 shares of company stock worth $107,903,039 over the last three months. 19.95% of the stock is owned by insiders.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD traded up $3.13 during mid-day trading on Thursday, hitting $47.79. 21,722,521 shares of the company's stock traded hands, compared to its average volume of 24,611,322. The company's 50-day moving average is $44.05 and its two-hundred day moving average is $40.45. The company has a market capitalization of $42.32 billion, a P/E ratio of 30.42, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate 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.