HighPoint Advisor Group LLC Purchases Shares of 46,798 Robinhood Markets, Inc. (NASDAQ:HOOD)

HighPoint Advisor Group LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 46,798 shares of the company’s stock, valued at approximately $596,000.

A number of other large investors have also made changes to their positions in HOOD. Vanguard Group Inc. grew its stake in shares of Robinhood Markets by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after acquiring an additional 2,459,702 shares during the period. ARK Investment Management LLC grew its stake in shares of Robinhood Markets by 6.4% during the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after acquiring an additional 2,101,325 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Robinhood Markets by 9.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after acquiring an additional 2,517,012 shares during the period. Nikko Asset Management Americas Inc. grew its stake in shares of Robinhood Markets by 9.6% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after acquiring an additional 2,486,986 shares during the period. Finally, Norges Bank bought a new position in shares of Robinhood Markets during the 4th quarter valued at approximately $84,165,000. 93.27% of the stock is currently owned by institutional investors.

Insider Transactions at Robinhood Markets

In other news, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.59, for a total transaction of $97,950.00. Following the sale, the chief financial officer now directly owns 1,002,407 shares of the company’s stock, valued at approximately $19,637,153.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Baiju Bhatt sold 16,667 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $17.16, for a total transaction of $286,005.72. Following the sale, the director now owns 36,045 shares in the company, valued at approximately $618,532.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jason Warnick sold 5,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.59, for a total value of $97,950.00. Following the sale, the chief financial officer now owns 1,002,407 shares in the company, valued at approximately $19,637,153.13. The disclosure for this sale can be found here. Insiders have sold 1,365,507 shares of company stock valued at $25,995,973 in the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler boosted their price objective on Robinhood Markets from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Barclays boosted their price objective on Robinhood Markets from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Thursday, May 9th. Sanford C. Bernstein began coverage on Robinhood Markets in a research note on Thursday, March 14th. They set an “outperform” rating and a $30.00 price objective for the company. Bank of America raised Robinhood Markets from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $24.00 in a report on Friday, May 17th. Finally, Morgan Stanley boosted their price target on Robinhood Markets from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.89.

Robinhood Markets Price Performance

Shares of HOOD opened at $21.86 on Wednesday. The stock has a market capitalization of $19.21 billion, a price-to-earnings ratio of 145.73 and a beta of 1.83. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $24.28. The business’s 50 day simple moving average is $19.27 and its 200-day simple moving average is $15.79.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.13. The business had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The company’s revenue for the quarter was up 40.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.57) EPS. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 0.53 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.