1,114,326 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Acquired by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,114,326 shares of the company’s stock, valued at approximately $41,520,000. Stephens Investment Management Group LLC owned 0.13% of Robinhood Markets at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. New Wave Wealth Advisors LLC bought a new stake in Robinhood Markets during the 4th quarter valued at about $26,000. Spire Wealth Management raised its stake in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after acquiring an additional 549 shares in the last quarter. HM Payson & Co. boosted its holdings in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the period. True Wealth Design LLC bought a new position in Robinhood Markets in the third quarter worth approximately $30,000. Finally, Eastern Bank purchased a new position in Robinhood Markets during the 3rd quarter worth $30,000. 93.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the transaction, the director now directly owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. This represents a 23.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $29,370,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,857,561 shares of company stock worth $159,976,719. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $55.86 on Friday. The firm’s 50 day simple moving average is $43.49 and its 200-day simple moving average is $31.19. Robinhood Markets, Inc. has a 12 month low of $11.00 and a 12 month high of $55.98. The stock has a market capitalization of $49.38 billion, a price-to-earnings ratio of 94.68, a PEG ratio of 0.73 and a beta of 2.13.

Analyst Ratings Changes

Several brokerages have weighed in on HOOD. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Sanford C. Bernstein increased their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. Barclays increased their price objective on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Raymond James started coverage on Robinhood Markets in a report on Wednesday. They set a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.67.

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.