3,797 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,797 shares of the company’s stock, valued at approximately $141,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HOOD. Azora Capital LP purchased a new stake in shares of Robinhood Markets in the third quarter worth approximately $79,780,000. FMR LLC raised its stake in shares of Robinhood Markets by 31.3% in the third 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. Raymond James Financial Inc. purchased a new stake in shares of Robinhood Markets in the fourth quarter worth approximately $90,869,000. Assenagon Asset Management S.A. raised its stake in shares of 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 worth $103,906,000 after purchasing an additional 2,313,213 shares during the last quarter. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter worth approximately $71,318,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $44.36 on Friday. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The business has a fifty day moving average price of $49.04 and a 200-day moving average price of $37.28. The firm has a market capitalization of $39.28 billion, a P/E ratio of 28.25, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results 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 return on equity of 13.53% and a net margin of 47.81%. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $49.02, for a total value of $1,225,500.00. Following the sale, the insider now owns 822,893 shares in the company, valued at approximately $40,338,214.86. This trade represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,979,251 shares of company stock valued at $142,232,560 over the last three months. Company insiders own 19.95% of the company’s stock.

Analysts Set New Price Targets

HOOD has been the subject of a number of research analyst reports. Raymond James initiated coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating for the company. Cantor Fitzgerald initiated coverage on Robinhood Markets in a research report on Thursday, March 6th. They set an “overweight” rating and a $69.00 price target for the company. Citigroup increased their price target on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods increased their price target on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.29.

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.