Global Retirement Partners LLC Boosts Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Global Retirement Partners LLC raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 918.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,668 shares of the company’s stock after purchasing an additional 15,933 shares during the quarter. Global Retirement Partners LLC’s holdings in Robinhood Markets were worth $658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOOD. Azora Capital LP purchased a new stake in Robinhood Markets in the third quarter valued at $79,780,000. FMR LLC raised its position in Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares during the period. Assenagon Asset Management S.A. raised its position in Robinhood Markets by 486.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock valued at $103,906,000 after purchasing an additional 2,313,213 shares during the period. Geode Capital Management LLC raised its position in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Robinhood Markets by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after purchasing an additional 1,137,677 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

HOOD has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Piper Sandler boosted their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JMP Securities boosted their price objective on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Citigroup boosted their price objective on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.53.

Robinhood Markets Price Performance

HOOD opened at $51.60 on Friday. Robinhood Markets, Inc. has a 12 month low of $13.59 and a 12 month high of $66.91. The stock has a market capitalization of $45.61 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 1.05 and a beta of 2.13. The business has a fifty day moving average price of $47.42 and a 200 day moving average price of $33.92.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the completion of the transaction, the insider now directly owns 1,106,955 shares of the company’s stock, valued at approximately $42,307,820.10. This represents a 1.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 186,514 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82. Following the transaction, the director now directly owns 2,521 shares of the company’s stock, valued at approximately $96,125.73. This represents a 98.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,520,607 shares of company stock valued at $200,784,430. 19.95% of the stock is currently owned by corporate 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.