Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Purchased by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 157.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,697 shares of the company’s stock after purchasing an additional 1,649 shares during the period. Smartleaf Asset Management LLC’s holdings in Robinhood Markets were worth $103,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HOOD. Azora Capital LP acquired a new stake in Robinhood Markets in the 3rd quarter valued at approximately $79,780,000. FMR LLC increased its holdings in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Robinhood Markets by 486.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock worth $103,906,000 after acquiring an additional 2,313,213 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of Robinhood Markets in the fourth quarter worth $71,318,000. Finally, Geode Capital Management LLC grew its stake in shares of Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Trading Down 0.9 %

Robinhood Markets stock opened at $44.42 on Friday. The stock has a market cap of $39.33 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The company has a fifty day simple moving average of $49.03 and a 200-day simple moving average of $35.92. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced 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 net margin of 47.81% and a return on equity of 13.53%. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on HOOD. Needham & Company LLC boosted their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Piper Sandler boosted 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. Morgan Stanley boosted their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Sanford C. Bernstein boosted their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Finally, Barclays boosted their price target on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Five research 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, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $60.13.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value 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. The trade was a 27.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 186,514 shares of Robinhood Markets stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the completion of the transaction, the director now owns 2,521 shares in the company, valued at approximately $96,125.73. This represents a 98.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,171,641 shares of company stock valued at $149,567,157 over the last ninety days. Insiders own 19.95% of the company’s stock.

About Robinhood Markets

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.