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

DnB Asset Management AS lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 33.7% during the 4th quarter, HoldingsChannel reports. The firm owned 113,839 shares of the company’s stock after buying an additional 28,725 shares during the period. DnB Asset Management AS’s holdings in Robinhood Markets were worth $4,242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in Robinhood Markets in the 4th quarter worth about $329,598,000. GQG Partners LLC purchased a new position in shares of Robinhood Markets during the fourth quarter worth about $302,325,000. Artisan Partners Limited Partnership bought a new position in shares of Robinhood Markets in the fourth quarter worth approximately $152,949,000. Azora Capital LP purchased a new stake in Robinhood Markets in the third quarter valued at approximately $79,780,000. Finally, FMR LLC lifted its position in Robinhood Markets by 31.3% during 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 last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HOOD. JMP Securities increased their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Morgan Stanley increased their target price on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their price target 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. Cantor Fitzgerald assumed coverage on Robinhood Markets in a research report on Thursday, March 6th. They set an “overweight” rating and a $69.00 price objective on the stock. Finally, Piper Sandler raised 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. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.82.

Robinhood Markets Stock Down 4.7 %

Shares of Robinhood Markets stock opened at $41.92 on Monday. The firm has a market cap of $37.12 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The company’s fifty day simple moving average is $49.16 and its two-hundred 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.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results 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%. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the sale, the director now owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was 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 directly owns 731,642 shares of the company’s stock, valued at approximately $29,594,918.90. The trade was a 12.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,955,655 shares of company stock valued at $143,072,448. Company insiders own 19.95% of the company’s stock.

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.