Hartford Investment Management Co. Acquires New Position in Robinhood Markets, Inc. $HOOD

Hartford Investment Management Co. acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 45,344 shares of the company’s stock, valued at approximately $6,492,000.

A number of other institutional investors have also modified their holdings of HOOD. Jennison Associates LLC acquired a new position in Robinhood Markets during the 3rd quarter valued at about $322,823,000. Coordinated Financial Services Inc. acquired a new stake in Robinhood Markets in the second quarter worth about $403,000. Allstate Corp purchased a new stake in shares of Robinhood Markets during the third quarter worth about $3,860,000. New Wave Wealth Advisors LLC increased its holdings in shares of Robinhood Markets by 479.4% during the third quarter. New Wave Wealth Advisors LLC now owns 13,331 shares of the company’s stock valued at $1,909,000 after acquiring an additional 11,030 shares in the last quarter. Finally, National Pension Service increased its holdings in shares of Robinhood Markets by 9.6% during the third quarter. National Pension Service now owns 1,640,472 shares of the company’s stock valued at $234,883,000 after acquiring an additional 143,351 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 1,330,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $128.47, for a total value of $170,865,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $121.63, for a total value of $45,611,250.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,805,075 shares of company stock valued at $347,653,564 in the last ninety days. Company insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on HOOD. Argus began coverage on shares of Robinhood Markets in a research report on Friday, January 9th. They set a “buy” rating and a $145.00 target price on the stock. Citizens Jmp lifted their price objective on shares of Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. The Goldman Sachs Group reissued a “buy” rating on shares of Robinhood Markets in a research report on Monday, January 5th. Bank of America reduced their target price on Robinhood Markets from $166.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Finally, CICC Research assumed coverage on Robinhood Markets in a research report on Monday, October 27th. They set an “outperform” rating and a $155.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $136.62.

Robinhood Markets Trading Down 9.6%

Shares of HOOD stock opened at $89.91 on Tuesday. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The stock has a market cap of $80.85 billion, a P/E ratio of 37.31, a P/E/G ratio of 1.55 and a beta of 2.44. The stock has a 50 day moving average of $117.53 and a 200 day moving average of $119.88.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company earned $0.17 EPS. The business’s revenue was up 100.0% on a year-over-year basis. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.