Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 19.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,557,301 shares of the company’s stock after purchasing an additional 739,631 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Robinhood Markets were worth $179,463,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Cetera Investment Advisers lifted its holdings in shares of Robinhood Markets by 26.2% in the 2nd quarter. Cetera Investment Advisers now owns 66,341 shares of the company’s stock valued at $1,507,000 after purchasing an additional 13,792 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Robinhood Markets by 71.3% during the third quarter. GAMMA Investing LLC now owns 3,923 shares of the company’s stock worth $92,000 after purchasing an additional 1,633 shares during the period. CWM LLC grew its position in Robinhood Markets by 66.9% in the 3rd quarter. CWM LLC now owns 38,746 shares of the company’s stock valued at $907,000 after buying an additional 15,524 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Robinhood Markets in the 3rd quarter valued at $89,000. Finally, ORG Wealth Partners LLC purchased a new position in Robinhood Markets during the 3rd quarter worth $33,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. JMP Securities boosted their target price on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods increased their target price on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft upped 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. Finally, Morgan Stanley raised their target price on Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.67.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $53.34 on Wednesday. The firm’s 50-day moving average is $44.16 and its two-hundred day moving average is $31.73. The company has a market capitalization of $47.15 billion, a PE ratio of 90.41, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. Robinhood Markets, Inc. has a 12-month low of $11.43 and a 12-month high of $57.27.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 186,514 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the sale, the director now directly owns 2,521 shares of the company’s stock, valued at $96,125.73. This trade represents a 98.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred on 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. Insiders sold 3,948,427 shares of company stock worth $165,005,244 in the last ninety days. Insiders own 19.95% of the company’s stock.

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.