MIG Capital LLC Invests $339,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

MIG Capital LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,095 shares of the company’s stock, valued at approximately $339,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its position in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after purchasing an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC grew its stake in Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after buying an additional 555,299 shares during the last quarter. Norges Bank acquired a new position in Robinhood Markets during the 4th quarter valued at about $329,598,000. GQG Partners LLC purchased a new stake in Robinhood Markets in the fourth quarter valued at about $302,325,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after acquiring an additional 138,267 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 47,023 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $46.37, for a total value of $2,180,456.51. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at approximately $233,797.54. The trade was a 90.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,627,010 shares of company stock worth $131,897,049 in the last ninety days. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Trading Down 9.8 %

Robinhood Markets stock opened at $34.51 on Friday. The firm has a market cap of $30.56 billion, a PE ratio of 21.98, a P/E/G ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The stock’s 50 day simple moving average is $48.15 and its two-hundred day simple moving average is $38.82.

Robinhood Markets (NASDAQ:HOOD) last announced 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%. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on HOOD shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Mizuho raised their price target 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 boosted their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. KeyCorp raised their target price on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.24.

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.