DnB Asset Management AS Buys 28,725 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

DnB Asset Management AS lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 33.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,839 shares of the company’s stock after purchasing an additional 28,725 shares during the quarter. DnB Asset Management AS’s holdings in Robinhood Markets were worth $4,242,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $26,000. True Wealth Design LLC bought a new position in shares of Robinhood Markets in the 3rd quarter worth $30,000. Creative Financial Designs Inc. ADV grew its position 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 purchasing an additional 750 shares during the period. Silicon Valley Capital Partners bought a new stake in Robinhood Markets during the 4th quarter valued at $37,000. Finally, Bogart Wealth LLC acquired a new position in Robinhood Markets during the fourth quarter worth $37,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on HOOD shares. Barclays lifted their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Cantor Fitzgerald initiated coverage on Robinhood Markets in a research note on Thursday, March 6th. They set an “overweight” rating and a $69.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. KeyCorp lifted their target price on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC decreased their price target on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a report on Friday. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $60.82.

Robinhood Markets Trading Down 4.7 %

Robinhood Markets stock opened at $41.92 on Monday. The business’s 50 day simple moving average is $49.16 and its 200 day simple moving average is $38.32. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The company has a market cap of $37.12 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) 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 return on equity of 13.53% and a net margin of 47.81%. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $40.45, for a total transaction of $4,045,000.00. Following the completion of the transaction, the insider now owns 731,642 shares of the company’s stock, valued at $29,594,918.90. This represents a 12.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,955,655 shares of company stock worth $143,072,448 over the last quarter. 19.95% of the stock is currently owned by company insiders.

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.