MIG Capital LLC Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

MIG Capital LLC acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, Holdings Channel reports. The firm acquired 9,095 shares of the company’s stock, valued at approximately $339,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its holdings in shares of Robinhood Markets by 31.0% in the 3rd quarter. Captrust Financial Advisors now owns 18,942 shares of the company’s stock valued at $444,000 after buying an additional 4,487 shares during the period. Investment Management Corp of Ontario grew its position in Robinhood Markets by 50.8% in the 3rd quarter. Investment Management Corp of Ontario now owns 17,525 shares of the company’s stock valued at $410,000 after acquiring an additional 5,900 shares in the last quarter. Quantinno Capital Management LP increased its stake in Robinhood Markets by 45.6% during the third quarter. Quantinno Capital Management LP now owns 37,867 shares of the company’s stock worth $887,000 after purchasing an additional 11,859 shares during the period. State Street Corp lifted its position in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after purchasing an additional 1,085,679 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in shares of Robinhood Markets in the third quarter valued at approximately $1,872,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HOOD shares. Raymond James started coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. Compass Point started coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price objective on the stock. Morgan Stanley lifted their target price on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Piper Sandler upped their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Mizuho lifted their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $60.24.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $42.64, for a total transaction of $250,552.64. Following the completion of the sale, the chief technology officer now owns 5,876 shares of the company’s stock, valued at approximately $250,552.64. This trade represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,627,010 shares of company stock valued at $131,897,049 over the last quarter. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $34.51 on Friday. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The firm has a market capitalization of $30.56 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.05 and a beta of 2.17. The company’s fifty day moving average price is $48.15 and its 200 day moving average price is $38.82.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results 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 return on equity of 13.53% and a net margin of 47.81%. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.