Chung Wu Investment Group LLC Makes New $354,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Chung Wu Investment Group LLC acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,500 shares of the company’s stock, valued at approximately $354,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HOOD. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets in the fourth quarter worth about $26,000. True Wealth Design LLC purchased a new stake in shares of Robinhood Markets during the third quarter valued at approximately $30,000. Silicon Valley Capital Partners purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $37,000. Bogart Wealth LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $37,000. Finally, Spire Wealth Management grew its holdings in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after buying an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the sale, the chief technology officer now owns 11,752 shares of the company’s stock, valued at approximately $445,635.84. This represents a 33.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Baiju Bhatt sold 186,514 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the completion of the sale, the director now directly owns 2,521 shares of the company’s stock, valued at $96,125.73. The trade was a 98.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,165,788 shares of company stock valued at $149,293,178. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Trading Up 4.1 %

Shares of NASDAQ:HOOD opened at $48.12 on Thursday. The company has a market capitalization of $42.61 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 1.05 and a beta of 2.13. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The firm’s 50-day moving average is $48.84 and its 200 day moving average is $35.57.

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 the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lifted their target price 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. JMP Securities lifted their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Morgan Stanley lifted their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. 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 report on Friday, December 6th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.53.

Robinhood Markets 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.