15,805 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Purchased by Allstate Corp

Allstate Corp acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,805 shares of the company’s stock, valued at approximately $589,000.

Other hedge funds have also added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC grew its stake in shares of Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after acquiring an additional 233 shares during the period. First Horizon Advisors Inc. boosted its position in Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after purchasing an additional 277 shares during the period. Spire Wealth Management boosted its position in Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after purchasing an additional 549 shares during the period. Allworth Financial LP increased its stake in shares of Robinhood Markets by 130.7% in the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock worth $42,000 after purchasing an additional 643 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $26,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

HOOD opened at $42.16 on Wednesday. The stock has a market capitalization of $37.33 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The stock’s 50 day moving average price is $48.88 and its 200-day moving average price is $38.60. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data 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%. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,955,655 shares of company stock worth $143,072,448 over the last three months. Company insiders own 19.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HOOD shares. Morgan Stanley lifted their price target on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Citigroup upped 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. Mizuho raised their price objective 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. Cantor Fitzgerald assumed coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They set an “overweight” rating and a $69.00 target price on the stock. Finally, Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $60.82.

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.