OVERSEA CHINESE BANKING Corp Ltd Acquires New Shares in Robinhood Markets, Inc. (NASDAQ:HOOD)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 11,876 shares of the company’s stock, valued at approximately $463,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $26,000. True Wealth Design LLC bought a new stake in shares of Robinhood Markets during the 3rd quarter valued at $30,000. Creative Financial Designs Inc. ADV increased its stake in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares during the last quarter. Silicon Valley Capital Partners bought a new position in Robinhood Markets in the 4th quarter worth about $37,000. Finally, Bogart Wealth LLC bought a new position in Robinhood Markets in the 4th quarter worth about $37,000. 93.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the transaction, the director now owns 5,042 shares of the company’s stock, valued at $316,133.40. This represents a 99.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the transaction, the chief technology officer now directly owns 17,559 shares of the company’s stock, valued at $821,936.79. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,979,251 shares of company stock valued at $142,232,560 in the last 90 days. Insiders own 19.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on HOOD shares. Piper Sandler upped their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. JMP Securities upped their target price on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Cantor Fitzgerald started coverage on Robinhood Markets in a research note on Thursday, March 6th. They issued an “overweight” rating and a $69.00 target price on the stock. Needham & Company LLC upped their target price on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, KeyCorp upped their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $61.29.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $43.66 on Friday. The stock has a market capitalization of $38.66 billion, a PE ratio of 27.81, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The business has a 50-day moving average of $48.96 and a 200 day moving average of $36.99.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.