MIG Capital LLC Buys New Shares in Robinhood Markets, Inc. (NASDAQ:HOOD)

MIG Capital LLC acquired 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 (SEC). The fund acquired 9,095 shares of the company's stock, valued at approximately $339,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Toronto Dominion Bank lifted its holdings in Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company's stock valued at $1,602,000 after buying an additional 16,219 shares during the period. IFP Advisors Inc increased its stake in Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock valued at $164,000 after purchasing an additional 3,769 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Robinhood Markets during the fourth quarter worth $634,000. Charles Schwab Investment Management Inc. grew its stake in shares of Robinhood Markets by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after acquiring an additional 138,267 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its position in Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock valued at $20,154,000 after purchasing an additional 92,613 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Performance

Shares of HOOD stock traded up $0.68 during mid-day trading on Wednesday, hitting $34.85. The company's stock had a trading volume of 23,158,511 shares, compared to its average volume of 23,086,957. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The company's fifty day simple moving average is $47.26 and its 200-day simple moving average is $39.07. The company has a market cap of $30.86 billion, a PE ratio of 22.00, a P/E/G ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data 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 net margin of 47.81% and a return on equity of 13.53%. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 90,866 shares of the company's stock in a transaction 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 owns 5,042 shares of the company's stock, valued at $228,251.34. This represents a 94.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief technology officer now directly owns 17,559 shares of the company's stock, valued at approximately $821,936.79. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,646,134 shares of company stock valued at $132,604,246 over the last ninety days. 19.95% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. KeyCorp raised their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Mizuho boosted their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Morgan Stanley lowered Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 price objective on the stock. in a research note on Tuesday. Compass Point began coverage on Robinhood Markets in a report on Wednesday, March 19th. They set a "buy" rating and a $61.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $55.06.

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.