Adero Partners LLC Invests $360,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Adero Partners LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,658 shares of the company’s stock, valued at approximately $360,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $26,000. HM Payson & Co. raised its holdings in shares of Robinhood Markets by 53.5% during 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 during the period. Eastern Bank acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at about $30,000. True Wealth Design LLC bought a new stake in Robinhood Markets in the 3rd quarter valued at about $30,000. Finally, ORG Wealth Partners LLC bought a new position in Robinhood Markets in the third quarter worth approximately $33,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $54.20 on Thursday. Robinhood Markets, Inc. has a one year low of $10.53 and a one year high of $54.33. The business’s 50 day simple moving average is $42.82 and its two-hundred day simple moving average is $30.75. The stock has a market capitalization of $47.91 billion, a P/E ratio of 91.87, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13.

Insider Transactions at Robinhood Markets

In other news, Director Meyer Malka sold 1,535,681 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the transaction, the director now owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. This represents a 23.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total value of $1,290,000.00. Following the sale, the insider now owns 706,642 shares in the company, valued at $36,462,727.20. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,857,561 shares of company stock worth $159,976,719. Company insiders own 19.95% of the company’s stock.

Analyst Ratings Changes

Several 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 research report on Monday, December 2nd. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and raised their target price for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Barclays increased their price target on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Raymond James started coverage on shares of Robinhood Markets in a research report on Wednesday. They set a “market perform” rating for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.73.

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.