Principal Securities Inc. Increases Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Principal Securities Inc. lifted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 255.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,966 shares of the company’s stock after purchasing an additional 5,728 shares during the period. Principal Securities Inc.’s holdings in Robinhood Markets were worth $297,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank lifted its position in Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after acquiring an additional 16,219 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in Robinhood Markets during the fourth quarter valued at approximately $634,000. Atomi Financial Group Inc. lifted its position in Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after acquiring an additional 92,613 shares during the last quarter. Requisite Capital Management LLC purchased a new stake in Robinhood Markets during the fourth quarter valued at approximately $266,000. Finally, Baker Avenue Asset Management LP lifted its position in Robinhood Markets by 77.9% during the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after acquiring an additional 203,354 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction dated Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the sale, the insider now directly owns 395,166 shares in the company, valued at $14,834,531.64. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total transaction of $477,750.00. Following the completion of the transaction, the insider now owns 1,106,955 shares of the company’s stock, valued at $42,307,820.10. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,607 shares of company stock valued at $200,784,430 over the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Down 8.0 %

HOOD opened at $51.60 on Monday. The company has a market cap of $45.61 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 1.05 and a beta of 2.13. Robinhood Markets, Inc. has a 52-week low of $13.59 and a 52-week high of $66.91. The firm’s fifty day simple moving average is $47.42 and its two-hundred day simple moving average is $34.03.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analysts Set New Price Targets

HOOD has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Mizuho upped their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Citigroup upped their price target on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Needham & Company LLC upped their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, JMP Securities upped their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.53.

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.