Xponance Inc. Buys 10,355 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Xponance Inc. lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 20.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 62,227 shares of the company’s stock after acquiring an additional 10,355 shares during the period. Xponance Inc.’s holdings in Robinhood Markets were worth $2,319,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HOOD. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets during the 4th quarter worth $26,000. True Wealth Design LLC purchased a new position in Robinhood Markets in the 3rd quarter worth $30,000. Creative Financial Designs Inc. ADV raised its position in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the period. Silicon Valley Capital Partners purchased a new position in Robinhood Markets in the 4th quarter worth $37,000. Finally, Bogart Wealth LLC purchased a new position in Robinhood Markets in the 4th quarter worth $37,000. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of analyst reports. Mizuho lifted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Piper Sandler lifted their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Cantor Fitzgerald began coverage on shares of Robinhood Markets in a research report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the transaction, the insider now owns 806,955 shares in the company, valued at approximately $30,268,882.05. This represents a 27.10 % decrease in their ownership of the stock. 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 company’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 valued at $142,232,560 over the last quarter. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $44.36 on Friday. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The company’s 50-day moving average is $49.04 and its 200 day moving average is $37.16. The stock has a market capitalization of $39.28 billion, a P/E ratio of 28.25, a P/E/G ratio of 1.05 and a beta of 2.14.

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

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.