Robinhood Markets, Inc. (NASDAQ:HOOD) Stake Lifted by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 23.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 99,678 shares of the company’s stock after buying an additional 18,894 shares during the quarter. QRG Capital Management Inc.’s holdings in Robinhood Markets were worth $3,714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the 4th quarter worth about $26,000. HM Payson & Co. grew its position in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Robinhood Markets in the third quarter valued at approximately $30,000. Silicon Valley Capital Partners bought a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $37,000. Finally, Bogart Wealth LLC acquired a new position in shares of Robinhood Markets during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling at Robinhood Markets

In other news, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the sale, the director now owns 4,974,238 shares in the company, valued at $199,516,686.18. The trade was a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the sale, the director now owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,624,018 shares of company stock valued at $206,917,425. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $50.10 on Friday. The company has a market capitalization of $44.29 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. The stock has a fifty day moving average of $48.34 and a 200-day moving average of $34.99. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate 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, research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on HOOD shares. JMP Securities raised their target price on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. Piper Sandler raised their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC upped their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Finally, KeyCorp boosted their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.53.

Robinhood Markets 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.