Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Position Increased by Entropy Technologies LP

Entropy Technologies LP grew its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 137.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,038 shares of the company’s stock after purchasing an additional 37,038 shares during the period. Entropy Technologies LP’s holdings in Robinhood Markets were worth $2,386,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in Robinhood Markets by 1,211,858.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after buying an additional 3,817,355 shares in the last quarter. Azora Capital LP bought a new position in shares of Robinhood Markets in the third quarter valued at approximately $79,780,000. FMR LLC increased its stake in shares of Robinhood Markets by 31.3% during 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 period. Assenagon Asset Management S.A. raised its holdings in Robinhood Markets by 486.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock worth $103,906,000 after purchasing an additional 2,313,213 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position 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 worth $271,708,000 after purchasing an additional 1,895,427 shares during the period. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD opened at $55.86 on Monday. The company has a market capitalization of $49.38 billion, a PE ratio of 94.68, a PEG ratio of 0.73 and a beta of 2.13. The company’s 50 day moving average price is $43.49 and its 200 day moving average price is $31.26. Robinhood Markets, Inc. has a 52 week low of $11.00 and a 52 week high of $55.98.

Analyst Ratings Changes

HOOD has been the topic of several research analyst reports. Barclays lifted their price target on Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. KeyCorp raised their price objective on shares of Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Citigroup boosted their target price on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, Piper Sandler raised their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.67.

Insider Buying and Selling at Robinhood Markets

In related news, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the sale, the insider now owns 395,166 shares of the company’s stock, valued at approximately $14,834,531.64. This trade represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Insiders sold 3,857,561 shares of company stock valued at $159,976,719 in the last quarter. Company insiders own 19.95% of the company’s stock.

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.