Zurcher Kantonalbank Zurich Cantonalbank Buys 76,676 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 120.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,311 shares of the company’s stock after purchasing an additional 76,676 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Robinhood Markets were worth $1,788,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Robinhood Markets by 4.5% in the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after purchasing an additional 2,459,702 shares during the last quarter. ARK Investment Management LLC increased its holdings in Robinhood Markets by 6.4% in the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after purchasing an additional 2,101,325 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Robinhood Markets by 9.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after purchasing an additional 2,517,012 shares during the last quarter. Northern Trust Corp grew its stake in Robinhood Markets by 37.5% in the third quarter. Northern Trust Corp now owns 3,099,424 shares of the company’s stock valued at $30,405,000 after acquiring an additional 845,178 shares during the period. Finally, TB Alternative Assets Ltd. grew its stake in Robinhood Markets by 14.9% in the fourth quarter. TB Alternative Assets Ltd. now owns 2,896,500 shares of the company’s stock valued at $36,901,000 after acquiring an additional 375,300 shares during the period. Institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on HOOD. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $12.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, March 19th. Citigroup cut Robinhood Markets from a “neutral” rating to a “sell” rating and boosted their target price for the company from $13.00 to $16.00 in a research note on Thursday, April 11th. Mizuho boosted their target price on Robinhood Markets from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley upped their price objective on Robinhood Markets from $11.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Robinhood Markets currently has an average rating of “Hold” and a consensus target price of $18.88.

Robinhood Markets Stock Performance

HOOD opened at $17.31 on Thursday. Robinhood Markets, Inc. has a 52-week low of $7.91 and a 52-week high of $20.55. The firm has a market capitalization of $15.14 billion, a PE ratio of -28.85 and a beta of 1.69. The business’s 50-day simple moving average is $17.23 and its 200 day simple moving average is $12.84.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The business had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. During the same quarter in the prior year, the company posted ($0.19) earnings per share. Robinhood Markets’s revenue was up 23.9% on a year-over-year basis. On average, research analysts forecast that Robinhood Markets, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $15.12, for a total value of $7,560,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $10.61, for a total value of $132,625.00. Following the sale, the insider now owns 738,291 shares of the company’s stock, valued at approximately $7,833,267.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 500,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.12, for a total value of $7,560,000.00. The disclosure for this sale can be found here. Insiders have sold 2,228,817 shares of company stock worth $33,781,825 over the last 90 days. Company insiders own 20.81% of the company’s stock.

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.