Northside Capital Management LLC Acquires New Shares in Robinhood Markets, Inc. (NASDAQ:HOOD)

Northside Capital Management LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,322 shares of the company’s stock, valued at approximately $422,000.

Other institutional investors have also added to or reduced their stakes in the company. HM Payson & Co. boosted its stake in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank acquired a new stake in Robinhood Markets during the 3rd quarter worth approximately $30,000. True Wealth Design LLC bought a new stake in Robinhood Markets during the 3rd quarter worth approximately $30,000. ORG Wealth Partners LLC acquired a new position in Robinhood Markets in the 3rd quarter valued at approximately $33,000. Finally, Connective Portfolio Management LLC bought a new position in shares of Robinhood Markets during the third quarter valued at $47,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on HOOD shares. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price objective for the company from $40.00 to $46.00 in a report on Friday, December 6th. KeyCorp increased their price target on Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Citigroup lifted their price objective on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Piper Sandler increased their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target 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. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.47.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 19,861 shares of the business’s stock in a transaction dated Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the sale, the insider now directly owns 395,166 shares of the company’s stock, valued at $14,834,531.64. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,609,792 shares of company stock worth $136,247,178. Insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $45.56 on Thursday. The business has a 50-day simple moving average of $37.63 and a 200 day simple moving average of $27.75. Robinhood Markets, Inc. has a one year low of $10.38 and a one year high of $46.22. The firm has a market capitalization of $40.27 billion, a price-to-earnings ratio of 77.22, a PEG ratio of 0.58 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period in the previous year, the company earned ($0.09) earnings per share. Robinhood Markets’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 0.91 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.