Valliance Asset Management Ltd Acquires Shares of 50,000 Robinhood Markets, Inc. (NASDAQ:HOOD)

Valliance Asset Management Ltd acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $1,863,000. Robinhood Markets accounts for 3.3% of Valliance Asset Management Ltd’s portfolio, making the stock its 9th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of HOOD. Azora Capital LP bought a new position in Robinhood Markets during the third quarter valued at $79,780,000. FMR LLC boosted its holdings in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after acquiring an additional 3,368,118 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Robinhood Markets by 486.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock worth $103,906,000 after acquiring an additional 2,313,213 shares during the period. TimesSquare Capital Management LLC bought a new position in shares of Robinhood Markets in the fourth quarter worth $71,318,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares during the period. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of analyst reports. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Keefe, Bruyette & Woods raised their price target on Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. KeyCorp lifted their price objective on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JMP Securities boosted their target price on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC boosted their target price on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.53.

Robinhood Markets Trading Down 8.0 %

HOOD opened at $51.60 on Friday. The stock has a 50-day moving average price of $47.42 and a 200-day moving average price of $33.92. Robinhood Markets, Inc. has a 12-month low of $13.59 and a 12-month high of $66.91. The stock has a market capitalization of $45.61 billion, a P/E ratio of 32.87, a PEG ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the sale, the insider now owns 706,642 shares of the company’s stock, valued at approximately $42,942,634.34. The trade was a 6.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total value of $61,596,164.91. Following the transaction, the director now directly owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,520,607 shares of company stock valued at $200,784,430. Insiders own 19.95% of the company’s stock.

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.