Independent Advisor Alliance Acquires Shares of 7,193 Robinhood Markets, Inc. (NASDAQ:HOOD)

Independent Advisor Alliance bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,193 shares of the company’s stock, valued at approximately $268,000.

Several other hedge funds have also recently modified their holdings of HOOD. Victory Capital Management Inc. raised its stake in Robinhood Markets by 85.3% in the 3rd quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock valued at $2,749,000 after purchasing an additional 54,046 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Robinhood Markets by 3.4% in the third quarter. CIBC Asset Management Inc now owns 21,731 shares of the company’s stock valued at $509,000 after buying an additional 724 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Robinhood Markets by 44.0% in the third quarter. Natixis Advisors LLC now owns 33,980 shares of the company’s stock worth $796,000 after buying an additional 10,376 shares in the last quarter. Quest Partners LLC boosted its position in Robinhood Markets by 1,008.4% during the third quarter. Quest Partners LLC now owns 15,086 shares of the company’s stock worth $353,000 after acquiring an additional 13,725 shares during the last quarter. Finally, Caprock Group LLC grew its stake in Robinhood Markets by 1.3% during the 3rd quarter. Caprock Group LLC now owns 100,527 shares of the company’s stock valued at $2,354,000 after acquiring an additional 1,256 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Up 6.7 %

HOOD opened at $42.80 on Thursday. The firm has a market cap of $37.90 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The business has a fifty day simple moving average of $48.90 and a 200-day simple moving average of $36.94.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the sale, the chief technology officer now owns 11,752 shares in the company, valued at $445,635.84. The trade was a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,985,127 shares of company stock valued at $142,455,378 in the last ninety days. Company insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of research reports. Citigroup raised their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Needham & Company LLC upped their target price on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Barclays lifted their price target on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Piper Sandler upped their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $61.29.

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.