KLP Kapitalforvaltning AS Invests $9.89 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

KLP Kapitalforvaltning AS bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 265,299 shares of the company’s stock, valued at approximately $9,885,000.

Several other hedge funds have also recently added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at $26,000. True Wealth Design LLC acquired a new position in shares of Robinhood Markets during the third quarter worth $30,000. Creative Financial Designs Inc. ADV increased its holdings in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 shares during the last quarter. Silicon Valley Capital Partners acquired a new stake in Robinhood Markets in the fourth quarter valued at $37,000. Finally, Bogart Wealth LLC purchased a new stake in Robinhood Markets during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity 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 value of $273,978.93. Following the completion of the transaction, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. This represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 522,180 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was 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 in the company, valued at $316,133.40. The trade was a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,685,104 shares of company stock worth $131,233,346 over the last 90 days. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $48.36 on Tuesday. The business has a 50 day simple moving average of $49.22 and a 200-day simple moving average of $37.61. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The stock has a market capitalization of $42.82 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HOOD shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Citigroup raised their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Barclays boosted their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Raymond James assumed coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating on the stock. Finally, Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $61.29.

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.