Avanza Fonder AB Takes $2.61 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Avanza Fonder AB acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 69,951 shares of the company’s stock, valued at approximately $2,606,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. HM Payson & Co. lifted its position in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares during the last quarter. Eastern Bank bought a new position in Robinhood Markets in the third quarter worth about $30,000. True Wealth Design LLC bought a new position in shares of Robinhood Markets during the third quarter valued at approximately $30,000. ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $33,000. Finally, Connective Portfolio Management LLC bought a new stake in shares of Robinhood Markets in the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $24.21, for a total value of $6,052,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction 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 transaction, the chief technology officer now owns 11,752 shares in the company, valued at approximately $445,635.84. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,700,658 shares of company stock valued at $140,360,682 in the last three months. Insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HOOD. Piper Sandler upped their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $20.00 to $43.00 in a research report on Tuesday, January 7th. JMP Securities lifted their price target on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Sanford C. Bernstein lifted their target price on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.07.

Robinhood Markets Price Performance

HOOD stock opened at $48.15 on Friday. The firm has a market capitalization of $42.56 billion, a P/E ratio of 81.61, a P/E/G ratio of 0.58 and a beta of 2.07. Robinhood Markets, Inc. has a 52-week low of $10.38 and a 52-week high of $49.27. The company’s 50 day simple moving average is $38.63 and its 200-day simple moving average is $28.18.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. Sell-side analysts predict that Robinhood Markets, Inc. will post 0.91 EPS for the current fiscal 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.