BIT Capital GmbH Acquires 1,166,427 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

BIT Capital GmbH grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 176.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,826,022 shares of the company’s stock after buying an additional 1,166,427 shares during the quarter. Robinhood Markets accounts for 5.4% of BIT Capital GmbH’s investment portfolio, making the stock its 4th largest position. BIT Capital GmbH’s holdings in Robinhood Markets were worth $68,038,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in HOOD. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the 4th quarter valued at $26,000. True Wealth Design LLC purchased a new position in Robinhood Markets during the third quarter valued at $30,000. Creative Financial Designs Inc. ADV lifted its holdings in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares in the last quarter. Silicon Valley Capital Partners acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $37,000. Finally, Bogart Wealth LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth about $37,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 228,645 shares of Robinhood Markets stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at $203,545.54. This trade represents a 97.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,955,655 shares of company stock valued at $143,072,448 in the last quarter. Insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $44.73 on Thursday. The firm has a 50 day simple moving average of $49.33 and a 200-day simple moving average of $37.87. The stock has a market cap of $39.61 billion, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping 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%. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of research reports. KeyCorp raised their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler raised their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods lifted their price target 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. Deutsche Bank Aktiengesellschaft reduced their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $61.29.

About Robinhood Markets

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.