Signaturefd LLC Purchases 2,650 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Signaturefd LLC boosted its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 77.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,087 shares of the company’s stock after acquiring an additional 2,650 shares during the period. Signaturefd LLC’s holdings in Robinhood Markets were worth $227,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets in the 4th quarter valued at about $26,000. True Wealth Design LLC acquired a new position in Robinhood Markets in the third quarter valued at approximately $30,000. Creative Financial Designs Inc. ADV grew its holdings in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares during the period. Silicon Valley Capital Partners bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $37,000. Finally, Bogart Wealth LLC acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $37,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Piper Sandler upped their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Mizuho increased their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $46.00 in a report on Friday, December 6th. Cantor Fitzgerald started coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 target price on the stock. Finally, Raymond James initiated coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating for the company. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average target price of $61.29.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $44.36 on Friday. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The stock’s 50 day moving average price is $49.04 and its two-hundred day moving average price is $37.16. The stock has a market capitalization of $39.28 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the sale, the insider now owns 806,955 shares in the company, valued at $30,268,882.05. This represents a 27.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 228,645 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the completion of the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at $203,545.54. This represents a 97.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,979,251 shares of company stock valued at $142,232,560 in the last three months. 19.95% of the stock is currently owned by corporate insiders.

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.