FIL Ltd Invests $39.68 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

FIL Ltd bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, HoldingsChannel reports. The firm bought 1,065,000 shares of the company’s stock, valued at approximately $39,682,000.

Several other institutional investors also recently bought and sold shares of the stock. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the 4th quarter worth about $26,000. Creative Financial Designs Inc. ADV increased its stake in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the period. Silicon Valley Capital Partners bought a new stake in Robinhood Markets during the 4th quarter valued at about $37,000. Bogart Wealth LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $37,000. Finally, Spire Wealth Management lifted its holdings in shares of Robinhood Markets by 104.6% in the 4th 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 period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 500,000 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total value of $25,385,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $50.67, for a total value of $4,604,180.22. Following the completion of the sale, the director now owns 5,042 shares of the company’s stock, valued at approximately $255,478.14. This trade represents a 94.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,651,987 shares of company stock valued at $132,806,233. Company insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of analyst reports. Compass Point initiated coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price target on the stock. Barclays dropped their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday. Cantor Fitzgerald assumed coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price target on the stock. Needham & Company LLC decreased their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, JMP Securities cut their price objective on shares of Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating on the stock in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.06.

Robinhood Markets Stock Down 4.0 %

NASDAQ:HOOD opened at $40.51 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The stock has a market cap of $35.87 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The firm’s fifty day simple moving average is $46.63 and its 200-day simple moving average is $39.35.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS 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%. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.