Oak Thistle LLC Invests $797,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Oak Thistle LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,383 shares of the company’s stock, valued at approximately $797,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in shares of Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after buying an additional 16,219 shares during the period. Everence Capital Management Inc. acquired a new stake in Robinhood Markets during the fourth quarter valued at $634,000. Baker Avenue Asset Management LP grew its stake in Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after purchasing an additional 203,354 shares in the last quarter. Bridgewater Associates LP increased its position in Robinhood Markets by 100.4% in the 3rd quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock worth $7,751,000 after purchasing an additional 165,791 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Robinhood Markets during the 4th quarter worth about $764,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HOOD. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. KeyCorp boosted their target price on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Citigroup raised their price target on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, Barclays raised their target price on Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.47.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 108,964 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $24.92, for a total value of $2,715,382.88. Following the completion of the transaction, the director now directly owns 2,521 shares of the company’s stock, valued at $62,823.32. This trade represents a 97.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The disclosure for this sale can be found here. Insiders have sold 3,609,792 shares of company stock worth $136,247,178 over the last three months. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Trading Up 9.1 %

Shares of Robinhood Markets stock opened at $45.56 on Thursday. Robinhood Markets, Inc. has a 1 year low of $10.38 and a 1 year high of $46.22. The company’s fifty day simple moving average is $37.63 and its 200-day simple moving average is $27.75. The company has a market cap of $40.27 billion, a price-to-earnings ratio of 77.22, a PEG ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. As a group, research analysts forecast that Robinhood Markets, Inc. will post 0.8 earnings per share for the current fiscal year.

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.