Monetta Financial Services Inc. Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Monetta Financial Services Inc. purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, Holdings Channel.com reports. The firm purchased 22,000 shares of the company’s stock, valued at approximately $820,000.

Several other institutional investors have also made changes to their positions in HOOD. New Wave Wealth Advisors LLC bought a new position in Robinhood Markets during the fourth quarter valued at approximately $26,000. True Wealth Design LLC acquired a new position in shares of Robinhood Markets during the 3rd quarter worth $30,000. Creative Financial Designs Inc. ADV raised its holdings in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares in the last quarter. Silicon Valley Capital Partners acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at $37,000. Finally, Bogart Wealth LLC bought a new stake in Robinhood Markets in the fourth quarter worth $37,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 123,272 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the completion of the transaction, the insider now directly owns 298,826 shares in the company, valued at $16,674,490.80. This represents a 29.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,979,251 shares of company stock worth $142,232,560. 19.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HOOD. Morgan Stanley raised their target price on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report 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. Needham & Company LLC increased their price target on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods lifted their price target on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, JMP Securities upped their price objective on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a 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 stock. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $61.29.

Robinhood Markets Stock Up 2.0 %

Shares of HOOD opened at $43.66 on Friday. The stock’s 50-day moving average price is $48.96 and its 200 day moving average price is $36.99. The firm has a market capitalization of $38.66 billion, a price-to-earnings ratio of 27.81, a P/E/G 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 released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) 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%. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.