Entropy Technologies LP Increases Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Entropy Technologies LP lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 137.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,038 shares of the company’s stock after buying an additional 37,038 shares during the period. Entropy Technologies LP’s holdings in Robinhood Markets were worth $2,386,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets during the fourth quarter worth about $26,000. HM Payson & Co. grew its holdings in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the period. Eastern Bank acquired a new stake in Robinhood Markets during the 3rd quarter worth approximately $30,000. True Wealth Design LLC purchased a new position in Robinhood Markets in the third quarter valued at approximately $30,000. Finally, ORG Wealth Partners LLC acquired a new position in Robinhood Markets during the third quarter valued at approximately $33,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on HOOD. Morgan Stanley increased their price objective on shares of Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $20.00 to $43.00 in a research report on Tuesday, January 7th. KeyCorp upped their target price on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Piper Sandler increased their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Finally, Citigroup boosted their price target on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.67.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the sale, the chief technology officer now owns 11,752 shares in the company, valued at $445,635.84. The trade was a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction 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 sold a total of 3,857,561 shares of company stock valued at $159,976,719 over the last three months. 19.95% of the stock is owned by insiders.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $55.86 on Monday. Robinhood Markets, Inc. has a 1 year low of $11.00 and a 1 year high of $55.98. The firm’s 50-day simple moving average is $43.49 and its 200-day simple moving average is $31.26. The firm has a market cap of $49.38 billion, a PE ratio of 94.68, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13.

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.