Generate Investment Management Ltd Purchases New Shares in Robinhood Markets, Inc. (NASDAQ:HOOD)

Generate Investment Management Ltd acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, HoldingsChannel reports. The fund acquired 322,737 shares of the company’s stock, valued at approximately $12,025,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets in the fourth quarter valued at about $26,000. Spire Wealth Management grew its holdings in Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after acquiring an additional 549 shares during the last quarter. HM Payson & Co. increased its position in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares in the last quarter. True Wealth Design LLC bought a new position in shares of Robinhood Markets in the third quarter worth about $30,000. Finally, Eastern Bank acquired a new position in shares of Robinhood Markets during the third quarter worth approximately $30,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $53.17 on Friday. The company has a market capitalization of $47.00 billion, a P/E ratio of 90.12, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13. The business has a 50-day moving average of $43.13 and a two-hundred day moving average of $30.91. Robinhood Markets, Inc. has a 1 year low of $10.64 and a 1 year high of $54.88.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HOOD. Piper Sandler raised their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. KeyCorp boosted their target price on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Citigroup raised their price target on Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 10th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $46.67.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 186,514 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the sale, the director now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 3,857,561 shares of company stock worth $159,976,719. 19.95% of the stock is owned by company 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.