11,876 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,876 shares of the company’s stock, valued at approximately $463,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Toronto Dominion Bank lifted its position in shares of Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after buying an additional 16,219 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after buying an additional 3,769 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $634,000. Charles Schwab Investment Management Inc. increased its stake in shares of Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after buying an additional 138,267 shares during the period. Finally, Atomi Financial Group Inc. grew its stake in Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after purchasing an additional 92,613 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HOOD has been the subject of several recent analyst reports. Raymond James assumed coverage on Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Compass Point initiated coverage on Robinhood Markets in a research note on Wednesday. They issued a “buy” rating and a $61.00 price objective for the company. Finally, Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $61.29.

Robinhood Markets Trading Up 2.0 %

HOOD stock opened at $43.66 on Friday. The stock’s fifty day simple moving average is $48.96 and its two-hundred day simple moving average is $36.99. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The stock has a market cap of $38.66 billion, a P/E ratio of 27.81, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping 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, analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 owns 806,955 shares in the company, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,979,251 shares of company stock valued at $142,232,560. 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.