Principal Financial Group Inc. Grows Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Principal Financial Group Inc. raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 170.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,732 shares of the company’s stock after buying an additional 73,607 shares during the period. Principal Financial Group Inc.’s holdings in Robinhood Markets were worth $4,349,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Capital Performance Advisors LLP boosted its holdings in Robinhood Markets by 224.3% in the fourth quarter. Capital Performance Advisors LLP now owns 7,086 shares of the company’s stock valued at $264,000 after purchasing an additional 4,901 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in shares of Robinhood Markets by 11.7% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 13,750 shares of the company’s stock valued at $512,000 after purchasing an additional 1,435 shares during the period. Allworth Financial LP raised its holdings in shares of Robinhood Markets by 130.7% during the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock valued at $42,000 after buying an additional 643 shares during the last quarter. Principal Securities Inc. boosted its position in shares of Robinhood Markets by 255.9% during the fourth quarter. Principal Securities Inc. now owns 7,966 shares of the company’s stock worth $297,000 after buying an additional 5,728 shares during the period. Finally, Montag A & Associates Inc. bought a new position in Robinhood Markets in the 4th quarter worth approximately $77,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barclays boosted 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. Mizuho upped their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. JMP Securities raised their target price 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. Piper Sandler upped their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC raised their price objective 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. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $59.53.

Robinhood Markets Stock Down 6.4 %

Shares of NASDAQ HOOD opened at $46.89 on Tuesday. The stock’s fifty day simple moving average is $48.53 and its 200 day simple moving average is $35.30. The stock has a market capitalization of $41.52 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 1.05 and a beta of 2.13. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the transaction, the director now owns 4,974,238 shares in the company, valued at $199,516,686.18. This represents a 23.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the sale, the insider now directly owns 806,955 shares of the company’s stock, valued at $30,268,882.05. This trade represents a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,676,469 shares of company stock worth $209,663,843 over the last ninety days. 19.95% of the stock is currently owned by company insiders.

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.