Cynosure Group LLC Invests $832,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cynosure Group LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 22,326 shares of the company’s stock, valued at approximately $832,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HOOD. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after buying an additional 233 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after purchasing an additional 277 shares in the last quarter. Spire Wealth Management grew its stake in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after buying an additional 549 shares during the last quarter. Allworth Financial LP increased its holdings in Robinhood Markets by 130.7% in the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock worth $42,000 after purchasing an additional 643 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in Robinhood Markets in the 4th quarter valued at approximately $26,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

HOOD has been the subject of several recent research reports. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Barclays raised their target price on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Cantor Fitzgerald initiated coverage on Robinhood Markets in a research report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price target on the stock. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.82.

Robinhood Markets Stock Up 1.3 %

HOOD stock opened at $42.16 on Wednesday. The firm has a market cap of $37.33 billion, a PE ratio of 26.85, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The business has a 50 day moving average of $48.88 and a 200-day moving average of $38.60.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results 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%. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the transaction, the chief technology officer now directly owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $40.45, for a total value of $4,045,000.00. Following the sale, the insider now directly owns 731,642 shares of the company’s stock, valued at approximately $29,594,918.90. This trade represents a 12.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,955,655 shares of company stock worth $143,072,448. Insiders own 19.95% of the company’s stock.

Robinhood Markets Company 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.