Connective Capital Management LLC Buys Shares of 14,626 Robinhood Markets, Inc. (NASDAQ:HOOD)

Connective Capital Management LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,626 shares of the company's stock, valued at approximately $545,000. Robinhood Markets comprises about 0.6% of Connective Capital Management LLC's portfolio, making the stock its 28th largest position.

A number of other large investors have also added to or reduced their stakes in HOOD. MetLife Investment Management LLC boosted its stake in shares of Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after purchasing an additional 171 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after purchasing an additional 233 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock valued at $142,000 after purchasing an additional 277 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after purchasing an additional 549 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its stake in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Activity

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business'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 transaction of $273,978.93. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the transaction, the insider now directly owns 822,893 shares of the company's stock, valued at $40,338,214.86. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,192,688 shares of company stock valued at $107,043,646 over the last three months. Insiders own 14.47% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HOOD. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $54.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Needham & Company LLC boosted their price objective on shares of Robinhood Markets from $58.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Raymond James assumed coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a "market perform" rating on the stock. Cantor Fitzgerald dropped their price objective on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, Barclays dropped their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $55.41.

Robinhood Markets Stock Down 2.5%

Shares of NASDAQ HOOD traded down $1.60 during midday trading on Friday, hitting $63.17. The stock had a trading volume of 28,522,162 shares, compared to its average volume of 26,511,946. The business's 50 day moving average is $47.76 and its 200-day moving average is $45.00. The company has a market cap of $55.93 billion, a P/E ratio of 40.24, a PEG ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The company's quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.