Zurcher Kantonalbank Zurich Cantonalbank Acquires 34,932 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 15.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 266,908 shares of the company’s stock after purchasing an additional 34,932 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Robinhood Markets were worth $9,945,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SVB Capital Management LLC bought a new position in shares of Robinhood Markets during the 4th quarter worth approximately $2,076,000. Dorsey & Whitney Trust CO LLC raised its stake in shares of Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after acquiring an additional 233 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Robinhood Markets during the 4th quarter worth approximately $124,000. Edgestream Partners L.P. raised its stake in shares of Robinhood Markets by 21.2% during the 4th quarter. Edgestream Partners L.P. now owns 149,684 shares of the company’s stock worth $5,577,000 after acquiring an additional 26,181 shares in the last quarter. Finally, Chung Wu Investment Group LLC bought a new position in shares of Robinhood Markets during the 4th quarter worth approximately $354,000. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

HOOD has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Sanford C. Bernstein upped their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Needham & Company LLC upped their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley upped their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Mizuho upped their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $61.31.

Robinhood Markets Stock Down 7.5 %

Robinhood Markets stock opened at $36.02 on Friday. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The firm’s 50-day simple moving average is $48.93 and its 200 day simple moving average is $36.26. The firm has a market capitalization of $31.89 billion, a PE ratio of 22.94, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares of the company’s stock, valued at approximately $821,936.79. This represents a 25.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was 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 of the company’s stock, valued at approximately $30,268,882.05. This represents a 27.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,985,127 shares of company stock valued at $142,455,378 in the last 90 days. 19.95% of the stock is currently owned by insiders.

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.