Anchor Investment Management LLC Purchases New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Anchor Investment Management LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,300 shares of the company’s stock, valued at approximately $48,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets in the 4th quarter valued at $26,000. Creative Financial Designs Inc. ADV increased its holdings in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares in the last quarter. Silicon Valley Capital Partners acquired a new position in shares of Robinhood Markets during the 4th quarter worth approximately $37,000. Bogart Wealth LLC acquired a new position in shares of Robinhood Markets in the fourth quarter worth $37,000. Finally, Spire Wealth Management raised its stake in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after purchasing an additional 549 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HOOD shares. Raymond James initiated coverage on Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating on the stock. Piper Sandler boosted their price objective 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. JPMorgan Chase & Co. increased their target price on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Barclays dropped their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Finally, Cantor Fitzgerald began coverage on Robinhood Markets in a research note on Thursday, March 6th. They set an “overweight” rating and a $69.00 target price for the company. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.06.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the sale, the chief technology officer now directly owns 5,853 shares in the company, valued at approximately $201,987.03. The trade was a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of the firm’s stock in a transaction dated 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 transaction, 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. In the last 90 days, insiders have sold 2,561,121 shares of company stock valued at $128,692,730. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Down 7.8 %

Robinhood Markets stock opened at $40.66 on Thursday. The firm has a 50-day moving average price of $45.76 and a two-hundred day moving average price of $39.79. The firm has a market capitalization of $36.00 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week 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 (EPS) 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%. Research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.