Alberta Investment Management Corp Buys Shares of 37,777 Robinhood Markets, Inc. (NASDAQ:HOOD)

Alberta Investment Management Corp bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 37,777 shares of the company’s stock, valued at approximately $1,408,000.

A number of other large investors have also recently bought and sold shares of HOOD. New Wave Wealth Advisors LLC bought a new stake in Robinhood Markets in the 4th quarter valued at about $26,000. HM Payson & Co. boosted its holdings in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the last quarter. Eastern Bank purchased a new stake in shares of Robinhood Markets in the third quarter valued at about $30,000. True Wealth Design LLC purchased a new position in Robinhood Markets during the third quarter worth about $30,000. Finally, Silicon Valley Capital Partners purchased a new position in Robinhood Markets during the fourth quarter worth about $37,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

Shares of HOOD opened at $51.60 on Friday. Robinhood Markets, Inc. has a 52-week low of $13.59 and a 52-week high of $66.91. The stock’s 50-day simple moving average is $47.42 and its 200 day simple moving average is $33.80. The stock has a market capitalization of $45.61 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 1.11 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the transaction, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. This trade represents a 4.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Meyer Malka sold 1,535,681 shares of Robinhood Markets 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 directly owns 4,974,238 shares in the company, valued at $199,516,686.18. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,520,607 shares of company stock valued at $200,784,430. Company insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HOOD. Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday. Mizuho upped 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. Raymond James assumed coverage on Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating on the stock. Needham & Company LLC increased their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Citigroup lifted their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.53.

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.