StoneX Group Inc. Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

StoneX Group Inc. acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,323 shares of the company’s stock, valued at approximately $422,000.

Other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in shares of Robinhood Markets by 15.3% in the 4th quarter. Franklin Resources Inc. now owns 311,225 shares of the company’s stock valued at $11,596,000 after acquiring an additional 41,348 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Robinhood Markets by 141.7% in the fourth quarter. Alliancebernstein L.P. now owns 652,527 shares of the company’s stock valued at $24,313,000 after purchasing an additional 382,583 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Robinhood Markets in the 4th quarter worth $588,000. O Shaughnessy Asset Management LLC lifted its position in Robinhood Markets by 164.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 48,754 shares of the company’s stock valued at $1,817,000 after purchasing an additional 30,319 shares during the period. Finally, Clearbridge Investments LLC acquired a new position in Robinhood Markets during the fourth quarter worth $50,258,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on HOOD. Citigroup reduced their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday. JMP Securities lifted their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. Morgan Stanley upped their price target on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Finally, 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. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.24.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 47,023 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $46.37, for a total transaction of $2,180,456.51. Following the completion of the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $233,797.54. The trade was a 90.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $43.36, for a total value of $253,786.08. Following the sale, the chief technology officer now owns 11,706 shares of the company’s stock, valued at approximately $507,572.16. The trade was a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,205,655 shares of company stock worth $113,702,448. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Performance

Shares of HOOD opened at $42.68 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 capitalization of $37.79 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The stock has a fifty day moving average of $48.73 and a two-hundred day moving average of $38.63.

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 research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Robinhood Markets Company 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.