QRG Capital Management Inc. Has $3.71 Million Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

QRG Capital Management Inc. boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 23.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,678 shares of the company’s stock after buying an additional 18,894 shares during the quarter. QRG Capital Management Inc.’s holdings in Robinhood Markets were worth $3,714,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth $26,000. HM Payson & Co. grew its stake in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. True Wealth Design LLC acquired a new position in Robinhood Markets in the 3rd quarter worth about $30,000. Silicon Valley Capital Partners purchased a new stake in shares of Robinhood Markets during the 4th quarter worth about $37,000. Finally, Bogart Wealth LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler increased their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Mizuho raised their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Sanford C. Bernstein boosted their price target on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $59.53.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 186,514 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82. Following the completion of the transaction, the director now directly owns 2,521 shares of the company’s stock, valued at $96,125.73. This trade represents a 98.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total transaction of $477,750.00. Following the completion of the sale, the insider now directly owns 1,106,955 shares in the company, valued at $42,307,820.10. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,624,018 shares of company stock worth $206,917,425. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Stock Up 2.7 %

Shares of NASDAQ HOOD opened at $50.10 on Friday. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The company has a market cap of $44.29 billion, a P/E ratio of 31.91, a P/E/G ratio of 1.05 and a beta of 2.13. The business’s 50 day moving average is $48.34 and its two-hundred day moving average is $34.99.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (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%. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

About Robinhood Markets

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.