Headlands Technologies LLC Takes $1.27 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Headlands Technologies LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, Holdings Channel.com reports. The firm purchased 34,034 shares of the company’s stock, valued at approximately $1,268,000.

A number of other hedge funds also recently bought and sold shares of the business. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the 4th quarter worth about $26,000. Creative Financial Designs Inc. ADV increased its stake in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares during the last quarter. Silicon Valley Capital Partners purchased a new stake in Robinhood Markets during the fourth quarter valued at approximately $37,000. Bogart Wealth LLC bought a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $37,000. Finally, Spire Wealth Management boosted its holdings in shares of Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after purchasing an additional 549 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HOOD shares. Piper Sandler raised their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. Mizuho increased their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. JMP Securities raised their price objective on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald assumed coverage on Robinhood Markets in a research note on Thursday, March 6th. They set an “overweight” rating and a $69.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.82.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $42.16 on Wednesday. The stock has a market cap of $37.33 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.05 and a beta of 2.14. The firm’s 50-day moving average is $48.88 and its two-hundred day moving average is $38.60. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In other news, insider Steven M. Quirk sold 123,272 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.80, for a total value of $6,878,577.60. Following the sale, the insider now directly owns 298,826 shares in the company, valued at approximately $16,674,490.80. This trade represents a 29.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business’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. In the last three months, insiders have sold 2,955,655 shares of company stock worth $143,072,448. 19.95% of the stock is currently owned by company insiders.

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.