iA Global Asset Management Inc. Invests $5.10 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

iA Global Asset Management Inc. bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 136,910 shares of the company’s stock, valued at approximately $5,101,000.

Several other large investors have also made changes to their positions in the company. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Robinhood Markets by 2.4% in the 4th 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. grew its holdings in shares of Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after purchasing an additional 277 shares during the last quarter. Commerce Bank grew its holdings in shares of Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares during the last quarter. Spire Wealth Management grew 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 worth $40,000 after purchasing an additional 549 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Robinhood Markets by 130.7% during the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock worth $42,000 after acquiring an additional 643 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $43.66 on Friday. The company has a market capitalization of $38.66 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 1.05 and a beta of 2.14. The firm’s 50 day simple moving average is $48.96 and its 200 day simple moving average is $36.99. 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 announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

HOOD has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Citigroup increased their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. JMP Securities increased their price objective on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Finally, Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They set an “overweight” rating and a $69.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 228,645 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the sale, the director now directly owns 5,042 shares in the company, valued at approximately $203,545.54. This trade represents a 97.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction that occurred on 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. Insiders have sold 2,979,251 shares of company stock worth $142,232,560 in the last ninety days. Company insiders own 19.95% of the company’s stock.

About Robinhood Markets

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.