WT Asset Management Ltd Invests $1.53 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

WT Asset Management Ltd purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,000 shares of the company’s stock, valued at approximately $1,528,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $26,000. HM Payson & Co. increased its stake in shares of Robinhood Markets by 53.5% in the 3rd 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 position in Robinhood Markets in the 3rd quarter worth about $30,000. True Wealth Design LLC purchased a new position in Robinhood Markets during the third quarter worth approximately $30,000. Finally, ORG Wealth Partners LLC acquired a new stake in Robinhood Markets in the third quarter valued at approximately $33,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 1.3 %

Shares of HOOD opened at $52.58 on Wednesday. Robinhood Markets, Inc. has a 52-week low of $10.51 and a 52-week high of $53.51. The stock has a fifty day simple moving average of $42.49 and a two-hundred day simple moving average of $30.59. The company has a market capitalization of $46.48 billion, a PE ratio of 89.12, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Sanford C. Bernstein upped their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Morgan Stanley upped their price objective on shares of Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. KeyCorp upped their price target on shares of Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $43.73.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,938,436 shares of company stock valued at $161,862,969. 19.95% of the stock is owned by company insiders.

Robinhood Markets Company 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.