Magnetar Financial LLC Takes $3.62 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Magnetar Financial LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 97,196 shares of the company’s stock, valued at approximately $3,622,000.

A number of other institutional investors have also modified their holdings of HOOD. Dorsey & Whitney Trust CO LLC raised its position in Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after acquiring an additional 233 shares in the last quarter. First Horizon Advisors Inc. raised its position in Robinhood Markets by 7.8% in the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after acquiring an additional 277 shares in the last quarter. Commerce Bank raised its position in Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after acquiring an additional 423 shares in the last quarter. Spire Wealth Management raised its position in Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after acquiring an additional 549 shares in the last quarter. Finally, Allworth Financial LP raised its position in Robinhood Markets by 130.7% in the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock worth $42,000 after acquiring an additional 643 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Needham & Company LLC increased their price objective on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JMP Securities increased their price objective on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lowered their target price on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Piper Sandler upped their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Raymond James assumed coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.29.

Robinhood Markets Stock Up 2.0 %

HOOD opened at $43.66 on Friday. The business’s fifty day simple moving average is $48.96 and its 200 day simple moving average is $36.99. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The firm has a market cap of $38.66 billion, a P/E ratio of 27.81, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,979,251 shares of company stock worth $142,232,560. 19.95% of the stock is 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.