Korea Investment CORP Buys 296,740 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Korea Investment CORP grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 335.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 385,216 shares of the company’s stock after purchasing an additional 296,740 shares during the quarter. Korea Investment CORP’s holdings in Robinhood Markets were worth $14,353,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets in the 4th quarter valued at about $26,000. Creative Financial Designs Inc. ADV increased its position in shares of Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares during the last quarter. Silicon Valley Capital Partners bought a new stake in Robinhood Markets during the fourth quarter worth $37,000. Bogart Wealth LLC purchased a new position in Robinhood Markets in the fourth quarter worth $37,000. Finally, Spire Wealth Management grew 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 purchasing an additional 549 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 522,180 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. This represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,955,655 shares of company stock worth $143,072,448 over the last ninety days. 19.95% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 price target on shares of Robinhood Markets in a report on Thursday. Barclays boosted their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Raymond James started coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating for the company. Finally, Citigroup boosted their target price on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.82.

Robinhood Markets Trading Down 4.7 %

HOOD stock opened at $41.92 on Monday. The firm has a 50 day moving average of $49.16 and a 200-day moving average of $38.32. The firm has a market capitalization of $37.12 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced 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 net margin of 47.81% and a return on equity of 13.53%. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.