GQG Partners LLC Makes New $302.33 Million Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

GQG Partners LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, HoldingsChannel reports. The fund acquired 8,113,929 shares of the company’s stock, valued at approximately $302,325,000.

Other hedge funds have also recently modified their holdings of the company. Modern Wealth Management LLC acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $225,000. Prudential Financial Inc. raised its position in shares of Robinhood Markets by 1,713.3% in the fourth quarter. Prudential Financial Inc. now owns 647,219 shares of the company’s stock worth $24,115,000 after acquiring an additional 611,526 shares during the period. Cannon Global Investment Management LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter worth about $410,000. Emerald Advisers LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter valued at about $144,000. Finally, Stevens Capital Management LP purchased a new position in shares of Robinhood Markets in the 4th quarter valued at about $234,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity

In other news, Director Baiju Bhatt sold 228,645 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $203,545.54. This represents a 97.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,685,104 shares of company stock valued at $131,233,346. 19.95% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of recent analyst reports. Citigroup increased their price target on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Compass Point began coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price objective for the company. Keefe, Bruyette & Woods lifted their target price on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, Mizuho upped their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.29.

Robinhood Markets Stock Up 9.0 %

Shares of HOOD opened at $48.36 on Tuesday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The stock has a fifty day simple moving average of $49.22 and a two-hundred day simple moving average of $37.61. The company has a market capitalization of $42.82 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

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 net margin of 47.81% and a return on equity of 13.53%. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal 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.