True Wealth Design LLC Boosts Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

True Wealth Design LLC grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 161.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,313 shares of the company’s stock after buying an additional 2,046 shares during the period. True Wealth Design LLC’s holdings in Robinhood Markets were worth $123,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC grew its position in Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC grew its position in Robinhood Markets by 1.1% during the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after purchasing an additional 273,860 shares during the last quarter. Geode Capital Management LLC grew its position in Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock valued at $455,464,000 after purchasing an additional 555,299 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after acquiring an additional 3,091,514 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at about $329,598,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HOOD has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Piper Sandler raised their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a report on Thursday, March 27th. Raymond James initiated coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $70.00 price target on shares of Robinhood Markets in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.41.

Robinhood Markets Trading Up 1.8%

HOOD opened at $61.76 on Friday. The company has a market cap of $54.69 billion, a price-to-earnings ratio of 39.34, a PEG ratio of 1.05 and a beta of 2.15. The company’s 50 day moving average is $45.27 and its 200 day moving average is $43.65. 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 quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business had revenue of $927.00 million during the quarter, compared to analysts’ expectations of $917.12 million. During the same period in the previous year, the business posted $0.18 EPS. The business’s quarterly revenue was up 50.0% compared to the same quarter last year. As a group, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the sale, the insider now owns 706,642 shares in the company, valued at $42,942,634.34. This trade represents a 6.61% 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, Director Baiju Bhatt sold 107,608 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $60.41, for a total transaction of $6,500,599.28. Following the sale, the director now owns 7,863 shares in the company, valued at approximately $475,003.83. The trade was a 93.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,947,622 shares of company stock worth $89,994,656. Company insiders own 14.47% of the company’s stock.

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.