Norges Bank Takes $329.60 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Norges Bank purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,845,889 shares of the company’s stock, valued at approximately $329,598,000.

Other large investors have also bought and sold shares of the company. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Robinhood Markets by 66.4% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 37,843 shares of the company’s stock worth $1,410,000 after acquiring an additional 15,106 shares during the period. Loomis Sayles & Co. L P bought a new position in shares of Robinhood Markets in the 4th quarter worth $75,000. BIT Capital GmbH grew its stake in shares of Robinhood Markets by 176.8% during the fourth quarter. BIT Capital GmbH now owns 1,826,022 shares of the company’s stock worth $68,038,000 after purchasing an additional 1,166,427 shares during the period. WINTON GROUP Ltd bought a new stake in Robinhood Markets in the fourth quarter valued at about $477,000. Finally, Artisan Partners Limited Partnership acquired a new position in Robinhood Markets in the fourth quarter valued at about $152,949,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 47,023 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $46.37, for a total value of $2,180,456.51. Following the completion of the sale, the director now owns 5,042 shares of the company’s stock, valued at approximately $233,797.54. This represents a 90.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $40.45, for a total transaction of $4,045,000.00. Following the transaction, the insider now owns 731,642 shares in the company, valued at approximately $29,594,918.90. The trade was a 12.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,955,655 shares of company stock worth $143,072,448 over the last ninety days. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Down 4.7 %

Shares of HOOD stock opened at $41.92 on Friday. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The company’s fifty day simple moving average is $49.16 and its 200-day simple moving average is $38.19. The firm has a market cap of $37.12 billion, a PE ratio of 26.70, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 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%. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on HOOD. Morgan Stanley boosted their target price on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. upped their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC reduced their target price on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Friday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.82.

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.