Optas LLC Buys Shares of 33,788 Robinhood Markets, Inc. (NASDAQ:HOOD)

Optas LLC bought a new stake in shares of 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 fund bought 33,788 shares of the company’s stock, valued at approximately $1,259,000.

Several other large investors have also modified their holdings of HOOD. Allspring Global Investments Holdings LLC boosted its holdings in Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after acquiring an additional 3,817,355 shares during the period. Azora Capital LP purchased a new stake in shares of Robinhood Markets during the third quarter valued at $79,780,000. FMR LLC boosted its stake in shares of 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 purchasing an additional 3,368,118 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Robinhood Markets by 486.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock valued at $103,906,000 after purchasing an additional 2,313,213 shares during the period. Finally, Geode Capital Management LLC grew its stake in Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $50.67, for a total transaction of $4,604,180.22. Following the completion of the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $255,478.14. This represents a 94.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,938,436 shares of company stock worth $161,862,969. 19.95% of the stock is owned by insiders.

Analysts Set New Price Targets

HOOD has been the subject of several research analyst reports. Sanford C. Bernstein lifted their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. KeyCorp lifted their target price on Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Barclays increased their price target on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. Finally, Piper Sandler upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.73.

Robinhood Markets Trading Down 0.1 %

Shares of HOOD opened at $51.90 on Tuesday. Robinhood Markets, Inc. has a 12 month low of $10.51 and a 12 month high of $53.51. The stock has a fifty day moving average price of $42.16 and a 200-day moving average price of $30.38. The firm has a market cap of $45.88 billion, a PE ratio of 87.97, a P/E/G ratio of 0.70 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.