Robinhood Markets, Inc. (NASDAQ:HOOD) is Berkshire Capital Holdings Inc.’s 8th Largest Position

Berkshire Capital Holdings Inc. grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 3,483,000.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 348,310 shares of the company’s stock after acquiring an additional 348,300 shares during the quarter. Robinhood Markets comprises approximately 4.7% of Berkshire Capital Holdings Inc.’s holdings, making the stock its 8th largest holding. Berkshire Capital Holdings Inc.’s holdings in Robinhood Markets were worth $12,978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. iA Global Asset Management Inc. bought a new stake in shares of Robinhood Markets during the fourth quarter worth $5,101,000. Magnetar Financial LLC purchased a new position in Robinhood Markets in the fourth quarter valued at about $3,622,000. Trivest Advisors Ltd boosted its holdings in Robinhood Markets by 145.6% in the fourth quarter. Trivest Advisors Ltd now owns 1,525,400 shares of the company’s stock worth $56,836,000 after acquiring an additional 904,400 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Robinhood Markets during the fourth quarter worth about $141,000. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Robinhood Markets during the fourth quarter worth about $463,000. 93.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HOOD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. JMP Securities upped their price target on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Needham & Company LLC increased their target price on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Raymond James started coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating for the company. Finally, Piper Sandler increased their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $61.29.

Robinhood Markets Stock Performance

HOOD opened at $42.80 on Thursday. The company has a market cap of $37.90 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The stock has a 50-day moving average of $48.90 and a 200-day moving average of $36.94. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at $316,133.40. The trade was a 99.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,985,127 shares of company stock worth $142,455,378. Insiders own 19.95% 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.