Geode Capital Management LLC Increases Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Geode Capital Management LLC raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 4.8% in the 4th quarter, HoldingsChannel reports. The firm owned 12,175,972 shares of the company’s stock after purchasing an additional 555,299 shares during the period. Geode Capital Management LLC’s holdings in Robinhood Markets were worth $455,464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its holdings in shares of Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after buying an additional 1,085,679 shares in the last quarter. Norges Bank bought a new position in Robinhood Markets during the fourth quarter valued at approximately $329,598,000. GQG Partners LLC bought a new position in Robinhood Markets during the fourth quarter valued at approximately $302,325,000. Charles Schwab Investment Management Inc. raised its stake in shares of Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after acquiring an additional 138,267 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Robinhood Markets by 19.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock valued at $179,463,000 after purchasing an additional 739,631 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on HOOD. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Barclays raised their price target on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Needham & Company LLC lowered their price objective on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $60.24.

Robinhood Markets Stock Performance

HOOD stock opened at $34.51 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The company has a market capitalization of $30.56 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The business’s 50 day moving average price is $48.15 and its two-hundred day moving average price is $38.71.

Robinhood Markets (NASDAQ:HOOD) last posted 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%. Sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $42.64, for a total transaction of $250,552.64. Following the sale, the chief technology officer now directly owns 5,876 shares of the company’s stock, valued at $250,552.64. This trade represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the completion of the sale, the insider now owns 706,642 shares of the company’s stock, valued at $36,462,727.20. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,627,010 shares of company stock worth $131,897,049 over the last three months. 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.