Pathway Capital Management LP Makes New $8.10 Million Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Pathway Capital Management LP acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 217,503 shares of the company’s stock, valued at approximately $8,104,000. Robinhood Markets accounts for approximately 8.1% of Pathway Capital Management LP’s portfolio, making the stock its 4th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after acquiring an additional 3,368,118 shares during the period. State Street Corp increased its stake in Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after acquiring an additional 1,085,679 shares during the period. Geode Capital Management LLC increased its stake in Robinhood Markets by 19.5% during the 3rd 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 during the period. Charles Schwab Investment Management Inc. increased its stake in Robinhood Markets by 33.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after acquiring an additional 1,137,677 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Robinhood Markets by 19.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock worth $179,463,000 after acquiring an additional 739,631 shares during the period. Institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In related news, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction that occurred on 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 approximately $199,516,686.18. This represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 806,955 shares in the company, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,643,879 shares of company stock worth $207,663,007 in the last 90 days. Insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $50.10 on Friday. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The firm has a market capitalization of $44.29 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 1.05 and a beta of 2.13. The business has a 50-day simple moving average of $48.34 and a 200 day simple moving average of $34.88.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping 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%. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of research analyst reports. KeyCorp raised their target price on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC raised their price objective on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. JMP Securities raised their target price on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Raymond James initiated coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating for the company. Finally, JPMorgan Chase & Co. raised their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.53.

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.