Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 279.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,985 shares of the company’s stock after purchasing an additional 25,030 shares during the quarter. Empowered Funds LLC’s holdings in Robinhood Markets were worth $1,266,000 at the end of the most recent reporting period.

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

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the sale, the insider now owns 806,955 shares in the company, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 90,866 shares of the company’s 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 completion of the transaction, the director now owns 5,042 shares of the company’s stock, valued at approximately $279,024.28. The trade was a 94.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,948,427 shares of company stock valued at $165,005,244 over the last quarter. 19.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley boosted their target price on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.07.

Robinhood Markets Stock Performance

HOOD stock opened at $65.28 on Monday. The company’s 50 day moving average price is $45.45 and its 200 day moving average price is $32.60. The firm has a market capitalization of $57.71 billion, a price-to-earnings ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13. Robinhood Markets, Inc. has a fifty-two week low of $13.04 and a fifty-two week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Equities analysts forecast that Robinhood Markets, Inc. will post 0.97 EPS 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.