HighPoint Advisor Group LLC Sells 869 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

HighPoint Advisor Group LLC reduced its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,238 shares of the company’s stock after selling 869 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Robinhood Markets were worth $1,350,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HOOD. State Street Corp lifted its holdings in shares of Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after acquiring an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC increased its position in Robinhood Markets by 19.5% during the 3rd 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 in the last quarter. Norges Bank bought a new position in Robinhood Markets in the 4th quarter valued at approximately $329,598,000. GQG Partners LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $302,325,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after buying an additional 138,267 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on HOOD shares. Compass Point initiated coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price target for the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Citigroup boosted their price target on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Finally, Barclays boosted their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.82.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $41.62 on Tuesday. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The stock has a 50 day simple moving average of $49.03 and a two-hundred day simple moving average of $38.46. The company has a market cap of $36.85 billion, a P/E ratio of 26.51, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (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 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.45, for a total transaction of $4,045,000.00. Following the transaction, the insider now directly owns 731,642 shares in the company, valued at approximately $29,594,918.90. The trade was a 12.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were 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 90 days, insiders sold 2,955,655 shares of company stock valued at $143,072,448. 19.95% of the stock is owned by company insiders.

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.