Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 19.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,557,301 shares of the company’s stock after acquiring an additional 739,631 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.52% of Robinhood Markets worth $179,463,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of HOOD. HM Payson & Co. boosted its position in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares in the last quarter. Commerce Bank lifted its position in shares of Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after buying an additional 423 shares in the last quarter. Signaturefd LLC grew its stake in Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after acquiring an additional 487 shares during the period. Spire Wealth Management increased its holdings in 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 acquiring an additional 549 shares in the last quarter. Finally, Castleview Partners LLC raised its position in Robinhood Markets by 18.2% during the third quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after acquiring an additional 582 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HOOD has been the topic of several research analyst reports. Morgan Stanley lifted their target price on shares of Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Citigroup increased their target price on Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 10th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Finally, Raymond James initiated coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $46.67.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the sale, the chief technology officer now owns 11,752 shares of the company’s stock, valued at $445,635.84. The trade was a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,948,427 shares of company stock valued at $165,005,244. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Stock Down 5.2 %

NASDAQ:HOOD opened at $53.34 on Wednesday. Robinhood Markets, Inc. has a 52 week low of $11.43 and a 52 week high of $57.27. The stock’s fifty day moving average is $44.16 and its two-hundred day moving average is $31.73. The company has a market capitalization of $47.15 billion, a P/E ratio of 90.41, a P/E/G ratio of 0.73 and a beta of 2.13.

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.