Cannon Global Investment Management LLC Invests $410,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cannon Global Investment Management LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 11,000 shares of the company’s stock, valued at approximately $410,000.

A number of other hedge funds have also modified their holdings of HOOD. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the 4th quarter worth about $26,000. True Wealth Design LLC bought a new position in shares of Robinhood Markets in the 3rd quarter valued at $30,000. Creative Financial Designs Inc. ADV increased its stake in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 shares during the period. Silicon Valley Capital Partners bought a new position in shares of Robinhood Markets during the fourth quarter valued at $37,000. Finally, Bogart Wealth LLC acquired a new position in Robinhood Markets during the 4th quarter worth about $37,000. 93.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HOOD shares. Compass Point initiated coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They set a “buy” rating and a $61.00 target price for the company. Piper Sandler increased their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Raymond James began coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.29.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 228,645 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at $203,545.54. The trade was a 97.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,679,251 shares of company stock valued at $130,979,560 in the last ninety days. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Price Performance

HOOD stock opened at $44.36 on Monday. The business has a 50-day moving average price of $49.04 and a 200 day moving average price of $37.41. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The company has a market capitalization of $39.28 billion, a P/E ratio of 28.25, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results 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 return on equity of 13.53% and a net margin of 47.81%. On average, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.