StoneX Group Inc. Purchases Shares of 11,323 Robinhood Markets, Inc. (NASDAQ:HOOD)

StoneX Group Inc. purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,323 shares of the company’s stock, valued at approximately $422,000.

Other institutional investors have also modified their holdings of the company. State Street Corp raised 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 acquiring an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after purchasing an additional 1,895,427 shares during the period. Norges Bank purchased a new position in shares of Robinhood Markets during the 4th quarter valued at approximately $329,598,000. GQG Partners LLC purchased a new stake in Robinhood Markets during the fourth quarter worth $302,325,000. Finally, 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 buying an additional 138,267 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 1.2 %

Shares of HOOD opened at $42.68 on Thursday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The stock has a fifty day simple moving average of $48.73 and a two-hundred day simple moving average of $38.63. The company has a market capitalization of $37.79 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 47,023 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $46.37, for a total value of $2,180,456.51. Following the sale, the director now directly owns 5,042 shares in the company, valued at approximately $233,797.54. The trade was a 90.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.45, for a total transaction of $4,045,000.00. Following the completion of the transaction, the insider now directly owns 731,642 shares in the company, valued at $29,594,918.90. The trade was a 12.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,205,655 shares of company stock valued at $113,702,448 over the last quarter. 19.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HOOD. Citigroup decreased their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Morgan Stanley upped their target price on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Cantor Fitzgerald assumed coverage on shares of Robinhood Markets in a research note on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price target on the stock. Finally, Piper Sandler increased their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.24.

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.