Eastern Bank acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,300 shares of the company’s stock, valued at approximately $30,000.
A number of other hedge funds have also recently modified their holdings of HOOD. PNC Financial Services Group Inc. increased its position in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the period. SteelPeak Wealth LLC boosted its stake in shares of Robinhood Markets by 92.6% during the 1st quarter. SteelPeak Wealth LLC now owns 21,340 shares of the company’s stock valued at $430,000 after purchasing an additional 10,258 shares in the last quarter. Diversified Trust Co bought a new stake in shares of Robinhood Markets during the 1st quarter valued at about $278,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Robinhood Markets during the 1st quarter valued at about $34,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Robinhood Markets by 26.6% during the 1st quarter. Principal Financial Group Inc. now owns 53,661 shares of the company’s stock valued at $1,080,000 after purchasing an additional 11,264 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.
Robinhood Markets Stock Down 0.6 %
NASDAQ:HOOD opened at $27.06 on Friday. The company’s 50 day moving average price is $22.84 and its 200-day moving average price is $21.13. Robinhood Markets, Inc. has a 52 week low of $7.91 and a 52 week high of $27.75. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of 180.40 and a beta of 1.84.
Insider Buying and Selling
In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 143,944 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total transaction of $2,696,071.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,639,654 shares of company stock worth $110,241,632. 19.95% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on HOOD shares. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 target price on shares of Robinhood Markets in a research note on Thursday, August 8th. Piper Sandler lifted their target price on shares of Robinhood Markets from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a research note on Thursday, August 8th. The Goldman Sachs Group boosted their price objective on shares of Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Bank of America upped their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.97.
View Our Latest Stock Report on HOOD
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.
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