6,290 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Acquired by Stevens Capital Management LP

Stevens Capital Management LP bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,290 shares of the company’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC lifted its holdings in Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after acquiring an additional 233 shares during the period. First Horizon Advisors Inc. increased its position in shares of Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after purchasing an additional 277 shares during the last quarter. Commerce Bank lifted its stake in shares of Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares during the period. Spire Wealth Management boosted its holdings in shares of Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after buying an additional 549 shares during the last quarter. Finally, Allworth Financial LP grew its position in Robinhood Markets by 130.7% during the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock valued at $42,000 after buying an additional 643 shares during the period. 93.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on HOOD shares. JPMorgan Chase & Co. increased their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Piper Sandler raised their target price 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. Deutsche Bank Aktiengesellschaft lowered their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Mizuho increased their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Cantor Fitzgerald assumed coverage on Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $61.29.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 228,645 shares of Robinhood Markets stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65. Following the transaction, the director now owns 5,042 shares in the company, valued at $203,545.54. The trade was a 97.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,685,104 shares of company stock valued at $131,233,346 over the last quarter. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Stock Up 9.0 %

Shares of HOOD opened at $48.36 on Tuesday. The business has a fifty day moving average of $49.22 and a 200 day moving average of $37.61. The company has a market cap of $42.82 billion, a PE ratio of 30.80, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results 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, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.