Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Bought by Empowered Funds LLC

Empowered Funds LLC raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 279.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,985 shares of the company’s stock after purchasing an additional 25,030 shares during the quarter. Empowered Funds LLC’s holdings in Robinhood Markets were worth $1,266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HOOD. Toronto Dominion Bank increased its position in shares of Robinhood Markets by 31.1% in the 3rd 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 period. Everence Capital Management Inc. purchased a new stake in Robinhood Markets during the 4th quarter valued at about $634,000. Atomi Financial Group Inc. increased its holdings in shares of Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after purchasing an additional 92,613 shares during the period. Requisite Capital Management LLC acquired a new position in shares of Robinhood Markets in the fourth quarter valued at about $266,000. Finally, Baker Avenue Asset Management LP raised its stake in shares of Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after purchasing an additional 203,354 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Up 2.3 %

Shares of HOOD opened at $65.28 on Monday. The firm has a market cap of $57.71 billion, a P/E ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13. Robinhood Markets, Inc. has a 12 month low of $13.04 and a 12 month high of $66.91. The stock’s 50 day moving average is $45.45 and its two-hundred day moving average is $32.60.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Equities research analysts forecast that Robinhood Markets, Inc. will post 0.97 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HOOD shares. Sanford C. Bernstein upped their target price on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Mizuho increased their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Raymond James started coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating for the company. KeyCorp increased their price target on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Barclays lifted their price objective on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average target price of $58.07.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 186,514 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 of the company’s stock, valued at $96,125.73. This represents a 98.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction that occurred on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value 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 represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,948,427 shares of company stock worth $165,005,244 over the last 90 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.