Wellington Management Group LLP Purchases New Shares in Robinhood Markets, Inc. (NASDAQ:HOOD)

Wellington Management Group LLP acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 15,775 shares of the company’s stock, valued at approximately $588,000.

A number of other institutional investors also recently bought and sold shares of HOOD. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets during the 4th quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV increased its holdings in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares during the period. Silicon Valley Capital Partners purchased a new stake in shares of Robinhood Markets during the fourth quarter worth approximately $37,000. Bogart Wealth LLC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $37,000. Finally, Spire Wealth Management grew its position in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after buying an additional 549 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 500,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total transaction of $25,385,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $45.27, for a total transaction of $4,113,503.82. Following the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $228,251.34. This represents a 94.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,651,987 shares of company stock worth $132,806,233. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 1.1 %

HOOD opened at $44.14 on Tuesday. The business’s fifty day simple moving average is $46.25 and its 200 day simple moving average is $39.76. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The firm has a market cap of $39.08 billion, a P/E ratio of 28.11, a PEG ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results 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%. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

HOOD has been the subject of a number of analyst reports. Compass Point began coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price objective for the company. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. JMP Securities dropped their target price on Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Needham & Company LLC decreased their price target on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $55.06.

Robinhood Markets Company 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.