Cigna Investments Inc. New Invests $244,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cigna Investments Inc. New bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, Holdings Channel reports. The firm bought 6,556 shares of the company’s stock, valued at approximately $244,000.

Other institutional investors have also recently bought and sold shares of the company. HM Payson & Co. lifted its holdings in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares during the last quarter. Commerce Bank increased its position in Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after acquiring an additional 423 shares during the period. Signaturefd LLC raised its stake in Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after purchasing an additional 487 shares during the last quarter. Spire Wealth Management boosted its holdings in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after purchasing an additional 549 shares during the period. Finally, Castleview Partners LLC grew its position in Robinhood Markets by 18.2% in the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after purchasing an additional 582 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Down 5.2 %

Shares of HOOD stock opened at $53.34 on Wednesday. The company has a market capitalization of $47.15 billion, a P/E ratio of 90.41, a P/E/G ratio of 0.73 and a beta of 2.13. Robinhood Markets, Inc. has a 12-month low of $11.43 and a 12-month high of $57.27. The firm has a 50-day moving average price of $44.16 and a 200 day moving average price of $31.73.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JMP Securities upped their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Mizuho upped their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Piper Sandler lifted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Barclays upped their target price on Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $46.67.

Insider Transactions at Robinhood Markets

In other news, Director Meyer Malka sold 1,535,681 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the sale, the director now owns 4,974,238 shares in the company, valued at approximately $199,516,686.18. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the transaction, the chief technology officer now directly owns 11,752 shares of the company’s stock, valued at $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,948,427 shares of company stock valued at $165,005,244. Corporate 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.