Newbridge Financial Services Group Inc. Buys New Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Newbridge Financial Services Group Inc. bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,750 shares of the company’s stock, valued at approximately $326,000.

A number of other hedge funds also recently bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new position in Robinhood Markets during the fourth quarter worth $26,000. HM Payson & Co. grew its position in Robinhood Markets by 53.5% in the 3rd 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 last quarter. Eastern Bank bought a new position in shares of Robinhood Markets during the 3rd quarter worth about $30,000. True Wealth Design LLC acquired a new position in shares of Robinhood Markets during the third quarter valued at about $30,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of Robinhood Markets in the third quarter valued at about $33,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $55.86 on Monday. The stock’s 50 day simple moving average is $43.49 and its 200 day simple moving average is $31.26. Robinhood Markets, Inc. has a one year low of $11.00 and a one year high of $55.98. The firm has a market cap of $49.38 billion, a PE ratio of 94.68, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total value of $25,385,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total value of $477,750.00. Following the completion of the transaction, the insider now owns 1,106,955 shares in the company, valued at $42,307,820.10. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,857,561 shares of company stock valued at $159,976,719. 19.95% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Mizuho boosted their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday. Sanford C. Bernstein upped their target price on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $20.00 to $43.00 in a research note on Tuesday, January 7th. Finally, 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. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.67.

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.