Cookson Peirce & Co. Inc. Raises Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cookson Peirce & Co. Inc. raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 15.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 112,118 shares of the company’s stock after buying an additional 14,876 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Robinhood Markets were worth $4,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in shares of Robinhood Markets by 87.6% in the fourth quarter. Victory Capital Management Inc. now owns 220,160 shares of the company’s stock worth $8,203,000 after acquiring an additional 102,777 shares during the period. Keybank National Association OH boosted its position in Robinhood Markets by 23.1% in the fourth quarter. Keybank National Association OH now owns 23,309 shares of the company’s stock worth $868,000 after purchasing an additional 4,368 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after purchasing an additional 138,267 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Robinhood Markets by 43.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 14,028 shares of the company’s stock valued at $523,000 after purchasing an additional 4,228 shares during the period. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at about $6,168,000. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Needham & Company LLC lifted their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upped 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. Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating on the stock. Finally, Sanford C. Bernstein boosted 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. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $59.53.

Insider Buying and Selling

In related news, Director Meyer Malka sold 64,951 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $49.64, for a total value of $3,224,167.64. Following the sale, the director now owns 3,235,585 shares in the company, valued at approximately $160,614,439.40. The trade was a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 123,272 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the transaction, the insider now owns 298,826 shares of the company’s stock, valued at $16,674,490.80. This trade represents a 29.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,140,788 shares of company stock worth $148,067,678. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

HOOD stock opened at $46.22 on Wednesday. The company’s fifty day moving average price is $48.67 and its 200-day moving average price is $35.48. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The company has a market capitalization of $40.93 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Robinhood Markets 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.