Cullinan Associates Inc. Invests $253,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cullinan Associates Inc. bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOODFree Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,800 shares of the company’s stock, valued at approximately $253,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Toronto Dominion Bank grew its holdings in shares of Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after buying an additional 16,219 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of Robinhood Markets during the fourth quarter valued at $634,000. Atomi Financial Group Inc. grew its holdings in shares of Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after buying an additional 92,613 shares in the last quarter. Requisite Capital Management LLC purchased a new position in shares of Robinhood Markets during the fourth quarter valued at $266,000. Finally, Baker Avenue Asset Management LP grew its holdings in shares of Robinhood Markets by 77.9% during the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after buying an additional 203,354 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 186,514 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the completion of the transaction, the director now owns 2,521 shares of the company’s stock, valued at approximately $96,125.73. The trade was a 98.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,938,436 shares of company stock worth $161,862,969. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Stock Performance

HOOD opened at $52.58 on Wednesday. The company has a market cap of $46.48 billion, a PE ratio of 89.12, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13. The stock has a 50-day moving average of $42.49 and a 200-day moving average of $30.59. Robinhood Markets, Inc. has a 52-week low of $10.51 and a 52-week high of $53.51.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HOOD. Piper Sandler lifted their price target on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Sanford C. Bernstein lifted their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Citigroup boosted their target price on Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $43.73.

Read Our Latest Analysis on HOOD

About Robinhood Markets

(Free Report)

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.

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Institutional Ownership by Quarter for Robinhood Markets (NASDAQ:HOOD)

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