Ashton Thomas Securities LLC Invests $218,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Ashton Thomas Securities LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,839 shares of the company’s stock, valued at approximately $218,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GQG Partners LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter valued at about $302,325,000. Azora Capital LP purchased a new position in Robinhood Markets during the third quarter worth approximately $79,780,000. FMR LLC grew its holdings in Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $90,869,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Robinhood Markets by 486.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock worth $103,906,000 after buying an additional 2,313,213 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 223,528 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at $217,864.82. This trade represents a 97.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,908,632 shares of company stock valued at $140,891,991 over the last quarter. 19.95% of the stock is owned by insiders.

Robinhood Markets Trading Down 0.4 %

Shares of HOOD opened at $48.15 on Wednesday. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The firm has a market capitalization of $42.63 billion, a P/E ratio of 30.67, a P/E/G ratio of 1.05 and a beta of 2.14. The firm has a 50-day moving average price of $49.35 and a 200 day moving average price of $37.82.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results 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%. Equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HOOD shares. JMP Securities lifted their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Citigroup lifted their price objective on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Mizuho increased their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.29.

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.