Independent Advisor Alliance Purchases Shares of 7,193 Robinhood Markets, Inc. (NASDAQ:HOOD)

Independent Advisor Alliance purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,193 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also made changes to their positions in HOOD. Dorsey & Whitney Trust CO LLC lifted its stake in Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after purchasing an additional 233 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after purchasing an additional 277 shares in the last quarter. Commerce Bank lifted its position in shares of Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after buying an additional 423 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after buying an additional 549 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Robinhood Markets by 130.7% in the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock valued at $42,000 after buying an additional 643 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HOOD has been the subject of a number of research reports. Citigroup boosted their price target on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Barclays boosted their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC raised their price target on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Cantor Fitzgerald started coverage on Robinhood Markets in a research note on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price objective for the company. Finally, The Goldman Sachs Group raised 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. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.29.

Robinhood Markets Stock Up 6.7 %

Shares of NASDAQ:HOOD opened at $42.80 on Thursday. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The company has a 50-day moving average price of $48.90 and a 200 day moving average price of $36.94. The company has a market cap of $37.90 billion, a P/E ratio of 27.26, a PEG 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the sale, the director now owns 5,042 shares in the company, valued at $316,133.40. This represents a 99.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the transaction, the chief technology officer now directly owns 17,559 shares of the company’s stock, valued at approximately $821,936.79. This represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,985,127 shares of company stock valued at $142,455,378. 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.