Allegiance Financial Group Advisory Services LLC Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Allegiance Financial Group Advisory Services LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 5,553 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds also recently bought and sold shares of the business. FMR LLC grew its position in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after acquiring an additional 3,368,118 shares during the last quarter. State Street Corp grew its stake in Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC grew its stake in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Robinhood Markets by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after purchasing an additional 1,137,677 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Robinhood Markets by 19.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock valued at $179,463,000 after purchasing an additional 739,631 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $48.85 on Thursday. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The company has a market cap of $43.18 billion, a PE ratio of 31.11, a P/E/G ratio of 1.05 and a beta of 2.13. The business has a 50-day simple moving average of $47.87 and a two-hundred day simple moving average of $34.56.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 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%. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Piper Sandler lifted their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Citigroup lifted their target price on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Mizuho lifted their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $59.53.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 123,272 shares of Robinhood Markets stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the completion of the transaction, the insider now directly owns 298,826 shares in the company, valued at approximately $16,674,490.80. This trade represents a 29.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total value of $3,038,500.00. Following the transaction, the insider now owns 706,642 shares of the company’s stock, valued at approximately $42,942,634.34. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,643,879 shares of company stock valued at $207,663,007 over the last quarter. 19.95% of the stock is currently owned by company insiders.

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.