5,954 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Acquired by Pitcairn Co.

Pitcairn Co. acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 5,954 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HOOD. New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets in the fourth quarter valued at $26,000. Creative Financial Designs Inc. ADV boosted its position in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares in the last quarter. Silicon Valley Capital Partners purchased a new position in shares of Robinhood Markets in the 4th quarter valued at about $37,000. Bogart Wealth LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter worth about $37,000. Finally, Spire Wealth Management lifted its stake in Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after purchasing an additional 549 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HOOD has been the topic of several recent analyst reports. Needham & Company LLC dropped their price target on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Barclays increased their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Morgan Stanley boosted their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Finally, JMP Securities boosted their target price on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.24.

Robinhood Markets Stock Performance

HOOD stock opened at $34.51 on Monday. The stock has a market capitalization of $30.56 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The company has a fifty day moving average of $48.15 and a 200-day moving average of $38.93. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91.

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

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 522,180 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the sale, the director now owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vladimir Tenev sold 500,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total transaction of $25,385,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,621,134 shares of company stock worth $131,646,496 over the last three months. 19.95% of the stock is currently owned by corporate insiders.

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.