Keystone Investors PTE Ltd. Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Keystone Investors PTE Ltd. bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,648 shares of the company’s stock, valued at approximately $322,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HOOD. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets during the 4th quarter worth about $26,000. True Wealth Design LLC purchased a new position in Robinhood Markets in the third quarter valued at approximately $30,000. Creative Financial Designs Inc. ADV increased its stake in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares during the last quarter. Silicon Valley Capital Partners acquired a new stake in Robinhood Markets during the fourth quarter worth approximately $37,000. Finally, Bogart Wealth LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $48.36 on Tuesday. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The stock’s 50 day moving average price is $49.22 and its 200 day moving average price is $37.61. The company has a market cap of $42.82 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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 anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HOOD has been the topic of several research analyst reports. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Compass Point started coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 target price for the company. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Needham & Company LLC lifted their target price on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.29.

Insider Activity

In other news, insider Steven M. Quirk sold 123,272 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the completion of the transaction, the insider now owns 298,826 shares in the company, valued at $16,674,490.80. This trade represents a 29.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,685,104 shares of company stock worth $131,233,346. Company insiders own 19.95% of the company’s stock.

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.