Hershey Trust Co. Takes $342,000 Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Hershey Trust Co. purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 9,170 shares of the company’s stock, valued at approximately $342,000. Robinhood Markets accounts for approximately 0.0% of Hershey Trust Co.’s investment portfolio, making the stock its 5th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in Robinhood Markets during the third quarter valued at $351,000. Franklin Resources Inc. bought a new position in shares of Robinhood Markets in the third quarter worth approximately $6,321,000. Garden State Investment Advisory Services LLC purchased a new stake in shares of Robinhood Markets in the third quarter worth $263,000. Versant Capital Management Inc raised its position in shares of Robinhood Markets by 6,799.1% during the 4th quarter. Versant Capital Management Inc now owns 22,974 shares of the company’s stock valued at $856,000 after purchasing an additional 22,641 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Robinhood Markets by 49.3% during the 4th quarter. GAMMA Investing LLC now owns 5,858 shares of the company’s stock valued at $218,000 after buying an additional 1,935 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $48.93 on Tuesday. The firm has a market cap of $43.33 billion, a P/E ratio of 31.17, a P/E/G ratio of 1.05 and a beta of 2.17. The firm’s 50 day moving average price is $43.28 and its 200-day moving average price is $41.16. Robinhood Markets, Inc. has a one year low of $13.98 and a one year 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

HOOD has been the topic of several recent analyst reports. 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 on the stock. Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays cut their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. increased their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $53.88.

Insider Activity

In related news, Director Baiju Bhatt sold 90,866 shares of Robinhood Markets stock in a transaction on Friday, February 7th. The shares were sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the sale, the director now directly owns 5,042 shares in the company, valued at $279,024.28. This trade represents a 94.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the transaction, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,234,584 shares of company stock worth $109,755,759. Corporate insiders own 19.95% of the company’s stock.

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.