Handelsbanken Fonder AB Increases Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Handelsbanken Fonder AB raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 128,700 shares of the company’s stock after purchasing an additional 3,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Robinhood Markets were worth $4,795,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets in the 4th quarter valued at approximately $26,000. Silicon Valley Capital Partners purchased a new position in shares of Robinhood Markets in the 4th quarter valued at approximately $37,000. Bogart Wealth LLC purchased a new position in shares of Robinhood Markets in the 4th quarter valued at approximately $37,000. Spire Wealth Management grew its stake in shares of 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. Finally, Allworth Financial LP grew its stake in shares of Robinhood Markets by 130.7% in the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock valued at $42,000 after purchasing an additional 643 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on HOOD shares. Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. JMP Securities lifted their price target on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted 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. KeyCorp lifted their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Piper Sandler lifted their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.53.

Insider Transactions at Robinhood Markets

In other news, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value 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. The trade was a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the transaction, the insider now directly owns 706,642 shares of the company’s stock, valued at approximately $42,942,634.34. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,520,607 shares of company stock valued at $200,784,430 over the last three months. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Stock Performance

HOOD opened at $51.60 on Monday. The business’s fifty day moving average is $47.42 and its two-hundred day moving average is $34.03. The company has a market cap of $45.61 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 1.05 and a beta of 2.13. Robinhood Markets, Inc. has a one year low of $13.59 and a one year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. On average, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.