Thrivent Financial for Lutherans Makes New $4.93 Million Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Thrivent Financial for Lutherans purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 132,266 shares of the company’s stock, valued at approximately $4,928,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $26,000. True Wealth Design LLC purchased a new position in shares of Robinhood Markets during the 3rd quarter worth $30,000. Creative Financial Designs Inc. ADV increased its position in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the last quarter. Silicon Valley Capital Partners purchased a new stake in Robinhood Markets in the 4th quarter valued at about $37,000. Finally, Bogart Wealth LLC acquired a new position in Robinhood Markets in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 228,645 shares of Robinhood Markets stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $40.37, for a total value of $9,230,398.65. Following the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $203,545.54. The trade was a 97.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,685,104 shares of company stock valued at $131,233,346. 19.95% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HOOD. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Morgan Stanley upped their price target on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler boosted their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Mizuho boosted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.29.

Robinhood Markets Stock Up 9.0 %

HOOD stock opened at $48.36 on Tuesday. The business has a 50 day moving average price of $49.22 and a 200 day moving average price of $37.61. The stock has a market cap of $42.82 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91.

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, 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, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.