IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 66.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,843 shares of the company’s stock after buying an additional 15,106 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Robinhood Markets were worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. GQG Partners LLC bought a new position in Robinhood Markets in the fourth quarter valued at about $302,325,000. Artisan Partners Limited Partnership bought a new position in shares of Robinhood Markets in the 4th quarter worth approximately $152,949,000. Azora Capital LP bought a new position in shares of Robinhood Markets in the 3rd quarter worth approximately $79,780,000. FMR LLC grew its position in Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Robinhood Markets during the fourth quarter valued at approximately $90,869,000. Institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares of the company’s stock, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 47,023 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $46.37, for a total value of $2,180,456.51. Following the sale, the director now directly owns 5,042 shares in the company, valued at approximately $233,797.54. The trade was a 90.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,955,655 shares of company stock worth $143,072,448. 19.95% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JMP Securities lifted their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their target price for the company from $40.00 to $46.00 in a research report on Friday, December 6th. KeyCorp upped their price target on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler raised their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note 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 data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $61.29.

Robinhood Markets Stock Down 1.7 %

HOOD stock opened at $43.99 on Friday. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The firm has a market capitalization of $38.95 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The company has a fifty day simple moving average of $49.29 and a two-hundred day simple moving average of $37.91.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (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%. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.