Massachusetts Financial Services Co. MA Purchases New Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Massachusetts Financial Services Co. MA purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,520,645 shares of the company’s stock, valued at approximately $56,659,000. Massachusetts Financial Services Co. MA owned about 0.17% of Robinhood Markets as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of HOOD. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the fourth quarter worth about $26,000. Creative Financial Designs Inc. ADV grew its position in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after buying an additional 750 shares during the last quarter. Silicon Valley Capital Partners bought a new stake in shares of Robinhood Markets in the 4th quarter worth approximately $37,000. Bogart Wealth LLC purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $37,000. Finally, Spire Wealth Management raised its holdings in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after acquiring an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’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 directly owns 17,559 shares in the company, valued at $821,936.79. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the sale, the insider now directly owns 706,642 shares of the company’s stock, valued at $36,462,727.20. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,627,010 shares of company stock valued at $131,897,049 over the last three months. Insiders own 19.95% of the company’s stock.

Analysts Set New Price Targets

HOOD has been the topic of a number of research analyst reports. KeyCorp boosted their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Cantor Fitzgerald started coverage on shares of Robinhood Markets in a research note on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price target for the company. Compass Point began coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price objective for the company. Mizuho upped their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Raymond James initiated coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.24.

Robinhood Markets Trading Down 9.8 %

Shares of HOOD opened at $34.51 on Friday. The company has a market cap of $30.56 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 1.05 and a beta of 2.17. The business’s fifty day simple moving average is $48.15 and its two-hundred day simple moving average is $38.82. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.