97,196 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Purchased by Magnetar Financial LLC

Magnetar Financial LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 97,196 shares of the company’s stock, valued at approximately $3,622,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter worth about $26,000. Creative Financial Designs Inc. ADV boosted its holdings in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares during the period. Silicon Valley Capital Partners purchased a new position in Robinhood Markets during the 4th quarter valued at about $37,000. Bogart Wealth LLC purchased a new position in Robinhood Markets during the 4th quarter valued at about $37,000. Finally, Spire Wealth Management boosted its holdings in Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after acquiring an additional 549 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of research analyst reports. Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. JMP Securities raised their target price on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Barclays lifted their price objective on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, 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. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $61.29.

Robinhood Markets Stock Up 2.0 %

HOOD stock opened at $43.66 on Friday. The business has a 50 day moving average price of $48.96 and a 200 day moving average price of $36.99. The stock has a market cap of $38.66 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results 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%. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the transaction, the insider now owns 806,955 shares of the company’s stock, valued at $30,268,882.05. The trade was a 27.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the transaction, the chief technology officer now directly owns 17,559 shares in the company, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,979,251 shares of company stock valued at $142,232,560 over the last quarter. Company 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.