Valliance Asset Management Ltd Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Valliance Asset Management Ltd purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 50,000 shares of the company’s stock, valued at approximately $1,863,000. Robinhood Markets accounts for about 3.3% of Valliance Asset Management Ltd’s investment portfolio, making the stock its 9th biggest holding.

A number of other hedge funds also recently modified their holdings of HOOD. Creative Planning raised its position in shares of Robinhood Markets by 34.6% during the third quarter. Creative Planning now owns 35,384 shares of the company’s stock worth $829,000 after purchasing an additional 9,094 shares during the period. Raymond James & Associates raised its position in shares of Robinhood Markets by 76.6% during the third quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock worth $2,325,000 after purchasing an additional 43,075 shares during the period. Signaturefd LLC raised its position in shares of Robinhood Markets by 16.5% during the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after purchasing an additional 487 shares during the period. Eastern Bank acquired a new stake in shares of Robinhood Markets during the third quarter worth about $30,000. Finally, Private Advisor Group LLC raised its position in shares of Robinhood Markets by 3.2% during the third quarter. Private Advisor Group LLC now owns 84,777 shares of the company’s stock worth $1,985,000 after purchasing an additional 2,644 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Trading Down 8.0 %

NASDAQ HOOD opened at $51.60 on Friday. The business’s 50-day moving average price is $47.42 and its two-hundred day moving average price is $33.92. Robinhood Markets, Inc. has a 12 month low of $13.59 and a 12 month high of $66.91. The firm has a market capitalization of $45.61 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. KeyCorp lifted their target price on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Citigroup lifted their target price on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.53.

Insider Transactions at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the sale, the chief technology officer now directly owns 11,752 shares of the company’s stock, valued at approximately $445,635.84. This trade represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 19,861 shares of the stock in a transaction that occurred on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the sale, the insider now directly owns 395,166 shares of the company’s stock, valued at $14,834,531.64. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,520,607 shares of company stock valued at $200,784,430 over the last ninety days. 19.95% of the stock is currently owned by insiders.

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.