Exchange Traded Concepts LLC Buys 1,132 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Exchange Traded Concepts LLC lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 149,741 shares of the company’s stock after acquiring an additional 1,132 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Robinhood Markets were worth $5,579,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC increased its position in shares of Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the last quarter. State Street Corp increased its holdings in 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 buying an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC raised its position in Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Robinhood Markets by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after acquiring an additional 1,137,677 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Robinhood Markets by 20.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,481,794 shares of the company’s stock valued at $104,964,000 after acquiring an additional 769,281 shares during the period. Institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’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 transaction, the chief technology officer now owns 11,752 shares of the company’s stock, valued at approximately $445,635.84. The trade was a 33.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 90,866 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $50.67, for a total transaction of $4,604,180.22. Following the transaction, the director now owns 5,042 shares in the company, valued at $255,478.14. The trade was a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,291,524 shares of company stock valued at $170,349,862 in the last three months. 19.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on HOOD. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their target price for the company from $20.00 to $43.00 in a research note on Tuesday, January 7th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Needham & Company LLC restated a “buy” rating and issued a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Sanford C. Bernstein raised their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, Morgan Stanley upped their price objective on shares of Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $43.07.

Robinhood Markets Stock Performance

HOOD opened at $51.12 on Friday. The company’s 50-day simple moving average is $40.38 and its two-hundred day simple moving average is $29.13. Robinhood Markets, Inc. has a 52-week low of $10.51 and a 52-week high of $52.06. The stock has a market capitalization of $45.19 billion, a P/E ratio of 86.65, a P/E/G ratio of 0.67 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) EPS. Research analysts forecast that Robinhood Markets, Inc. will post 0.97 EPS for the current fiscal year.

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.