Harbour Investments Inc. Buys 1,205 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Harbour Investments Inc. increased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 81.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,676 shares of the company’s stock after buying an additional 1,205 shares during the quarter. Harbour Investments Inc.’s holdings in Robinhood Markets were worth $100,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HOOD. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the 4th quarter worth $26,000. Silicon Valley Capital Partners purchased a new position in Robinhood Markets during the fourth quarter worth about $37,000. Bogart Wealth LLC bought a new stake in Robinhood Markets in the 4th quarter worth about $37,000. Spire Wealth Management increased its stake 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. Finally, Allworth Financial LP lifted its position in shares of Robinhood Markets by 130.7% during the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock worth $42,000 after buying an additional 643 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HOOD has been the subject of several recent analyst reports. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the company from $40.00 to $46.00 in a report on Friday, December 6th. Needham & Company LLC lifted 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. Morgan Stanley increased their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Raymond James assumed coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating on the stock. Finally, Mizuho increased their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.29.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $44.36 on Monday. The company has a market cap of $39.28 billion, a P/E ratio of 28.25, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The stock’s fifty day moving average price is $49.04 and its two-hundred day moving average price is $37.41.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 228,645 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65. Following the sale, the director now owns 5,042 shares in the company, valued at approximately $203,545.54. This trade represents a 97.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,679,251 shares of company stock valued at $130,979,560. Corporate 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.