Pathway Capital Management LP Acquires New Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Pathway Capital Management LP bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 217,503 shares of the company’s stock, valued at approximately $8,104,000. Robinhood Markets accounts for about 8.1% of Pathway Capital Management LP’s portfolio, making the stock its 4th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Metis Global Partners LLC bought a new stake in Robinhood Markets during the 4th quarter valued at $276,000. West Michigan Advisors LLC bought a new stake in Robinhood Markets during the 4th quarter valued at $299,000. Williamson Legacy Group LLC bought a new stake in Robinhood Markets during the 4th quarter valued at $237,000. US Bancorp DE raised its holdings in Robinhood Markets by 53.3% during the 4th quarter. US Bancorp DE now owns 42,545 shares of the company’s stock valued at $1,585,000 after acquiring an additional 14,794 shares during the period. Finally, SVB Wealth LLC bought a new stake in Robinhood Markets during the 4th quarter valued at $908,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $50.10 on Friday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The firm has a fifty day moving average of $48.34 and a 200 day moving average of $34.88. The firm has a market capitalization of $44.29 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13.

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 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, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction dated Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the sale, the insider now owns 395,166 shares of the company’s stock, valued at approximately $14,834,531.64. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,643,879 shares of company stock worth $207,663,007 over the last three months. Company insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HOOD shares. JMP Securities boosted their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Needham & Company LLC upped their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Citigroup upped their price target 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. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.53.

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.