Silicon Valley Capital Partners Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Silicon Valley Capital Partners purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,000 shares of the company’s stock, valued at approximately $37,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after buying an additional 3,817,355 shares during the period. Azora Capital LP acquired a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $79,780,000. FMR LLC grew its position in shares of Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after buying an additional 3,368,118 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Robinhood Markets by 486.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock worth $103,906,000 after buying an additional 2,313,213 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after buying an additional 1,895,427 shares during the period. Institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other Robinhood Markets news, insider Steven M. Quirk sold 19,861 shares of the business’s stock in a transaction that occurred on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the sale, the insider now owns 395,166 shares in the company, valued at approximately $14,834,531.64. The trade was a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total value of $477,750.00. Following the completion of the sale, the insider now owns 1,106,955 shares of the company’s stock, valued at $42,307,820.10. The trade was a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,857,561 shares of company stock valued at $159,976,719 over the last quarter. 19.95% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods raised their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Sanford C. Bernstein raised their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, KeyCorp lifted their price target on shares of Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.67.

Robinhood Markets Price Performance

Shares of HOOD opened at $55.86 on Monday. The firm has a market cap of $49.38 billion, a P/E ratio of 94.68, a P/E/G ratio of 0.73 and a beta of 2.13. The stock has a 50 day simple moving average of $43.49 and a two-hundred day simple moving average of $31.26. Robinhood Markets, Inc. has a 1 year low of $11.00 and a 1 year high of $55.98.

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.