iA Global Asset Management Inc. Takes $5.10 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

iA Global Asset Management Inc. purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 136,910 shares of the company’s stock, valued at approximately $5,101,000.

A number of other large investors have also made changes to their positions in the company. FMR LLC raised its holdings in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after acquiring an additional 3,368,118 shares during the period. State Street Corp grew its position in Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC grew its position in Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after purchasing an additional 138,267 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Robinhood Markets by 19.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock valued at $179,463,000 after purchasing an additional 739,631 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the transaction, the director now owns 5,042 shares in the company, valued at approximately $316,133.40. This represents a 99.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the transaction, the insider now owns 806,955 shares of the company’s stock, valued at approximately $30,268,882.05. This represents a 27.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,979,251 shares of company stock worth $142,232,560 in the last ninety days. 19.95% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HOOD shares. Keefe, Bruyette & Woods boosted their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. JMP Securities boosted 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. Barclays boosted their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Raymond James started coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating for the company. Finally, Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $43.66 on Friday. The stock has a market cap of $38.66 billion, a P/E ratio of 27.81, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The company has a fifty day moving average price of $48.96 and a 200 day moving average price of $36.99.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 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 research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.