Spire Wealth Management Buys 549 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Spire Wealth Management raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 104.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,074 shares of the company’s stock after purchasing an additional 549 shares during the period. Spire Wealth Management’s holdings in Robinhood Markets were worth $40,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. HM Payson & Co. raised its position in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares in the last quarter. Commerce Bank boosted its stake in shares of Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after buying an additional 423 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after buying an additional 487 shares during the last quarter. Castleview Partners LLC raised its holdings in shares of Robinhood Markets by 18.2% in the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after purchasing an additional 582 shares during the period. Finally, Axxcess Wealth Management LLC raised its holdings in shares of Robinhood Markets by 3.1% in the 3rd quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock worth $463,000 after purchasing an additional 598 shares during the period. 93.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HOOD has been the topic of a number of analyst reports. JMP Securities boosted their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Mizuho upped their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday. Barclays upped their price objective on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Citigroup increased their price target on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their target price for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.67.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the sale, the chief technology officer now owns 11,752 shares in the company, valued at $445,635.84. The trade was a 33.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Quirk sold 19,861 shares of the business’s stock in a transaction on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the sale, the insider now owns 395,166 shares in the company, valued at approximately $14,834,531.64. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,857,561 shares of company stock worth $159,976,719 in the last 90 days. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $55.86 on Monday. The company’s fifty day simple moving average is $43.49 and its 200-day simple moving average is $31.26. The stock has a market capitalization of $49.38 billion, a PE ratio of 94.68, a P/E/G ratio of 0.73 and a beta of 2.13. Robinhood Markets, Inc. has a 1-year low of $11.00 and a 1-year high of $55.98.

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.