Harbor Investment Advisory LLC Buys New Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Harbor Investment Advisory LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,600 shares of the company’s stock, valued at approximately $283,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HOOD. Allspring Global Investments Holdings LLC boosted its holdings in Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after acquiring an additional 3,817,355 shares during the last quarter. Azora Capital LP acquired a new position in Robinhood Markets in the third quarter valued at $79,780,000. FMR LLC boosted its holdings in Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after acquiring an additional 3,368,118 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Robinhood Markets by 486.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock valued at $103,906,000 after acquiring an additional 2,313,213 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after acquiring an additional 1,895,427 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on HOOD shares. Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. KeyCorp boosted their price objective on Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Barclays boosted their price objective on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.07.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $24.21, for a total transaction of $6,052,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the transaction, the chief technology officer now directly owns 11,752 shares of the company’s stock, valued at $445,635.84. This trade represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,700,658 shares of company stock valued at $140,360,682 over the last three months. 19.95% of the stock is owned by insiders.

Robinhood Markets Stock Up 0.3 %

Shares of Robinhood Markets stock opened at $50.16 on Thursday. The firm has a market cap of $44.34 billion, a P/E ratio of 85.02, a P/E/G ratio of 0.65 and a beta of 2.07. Robinhood Markets, Inc. has a fifty-two week low of $10.51 and a fifty-two week high of $51.09. The business has a 50-day moving average price of $39.64 and a 200 day moving average price of $28.77.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) earnings per share. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 0.97 earnings per share for the current 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.