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

WT Asset Management Ltd purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 41,000 shares of the company’s stock, valued at approximately $1,528,000.

A number of other institutional investors have also modified their holdings of HOOD. Yousif Capital Management LLC purchased a new position in Robinhood Markets during the 4th quarter valued at about $321,000. Cullinan Associates Inc. purchased a new stake in Robinhood Markets during the fourth quarter worth about $253,000. Optas LLC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth about $1,259,000. Financial Life Planners purchased a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $190,000. Finally, Fiduciary Planning LLC acquired a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $343,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $52.58 on Wednesday. Robinhood Markets, Inc. has a 12 month low of $10.51 and a 12 month high of $53.51. The firm has a market capitalization of $46.48 billion, a P/E ratio of 89.12, a P/E/G ratio of 0.70 and a beta of 2.13. The company’s fifty day moving average price is $42.49 and its 200 day moving average price is $30.59.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 186,514 shares of Robinhood Markets stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the transaction, the director now directly owns 2,521 shares in the company, valued at $96,125.73. This trade represents a 98.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Thursday, January 2nd. The shares were 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 3,938,436 shares of company stock valued at $161,862,969. 19.95% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on HOOD. Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. JMP Securities increased their price target on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Sanford C. Bernstein raised their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Four 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.73.

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.