Artisan Partners Limited Partnership Makes New $152.95 Million Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Artisan Partners Limited Partnership acquired a new stake in 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 acquired 4,104,924 shares of the company’s stock, valued at approximately $152,949,000.

Several other institutional investors have also recently modified their holdings of HOOD. Natixis Advisors LLC raised its position in Robinhood Markets by 44.0% during the 3rd quarter. Natixis Advisors LLC now owns 33,980 shares of the company’s stock worth $796,000 after buying an additional 10,376 shares during the last quarter. Commerce Bank raised its holdings in shares of Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Robinhood Markets by 32.2% during the third quarter. Cerity Partners LLC now owns 107,629 shares of the company’s stock worth $2,521,000 after purchasing an additional 26,245 shares during the last quarter. Centaurus Financial Inc. lifted its position in Robinhood Markets by 7.5% during the third quarter. Centaurus Financial Inc. now owns 9,444 shares of the company’s stock valued at $221,000 after purchasing an additional 655 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in Robinhood Markets by 7.5% in the third quarter. Daiwa Securities Group Inc. now owns 49,910 shares of the company’s stock valued at $1,168,000 after purchasing an additional 3,490 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald started coverage on Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price objective for the company. Compass Point assumed coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price target for the company. Needham & Company LLC raised their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. increased their price target on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Piper Sandler boosted their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $61.29.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $40.45, for a total value of $4,045,000.00. Following the completion of the sale, the insider now owns 731,642 shares of the company’s stock, valued at $29,594,918.90. This represents a 12.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred 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. Insiders sold a total of 2,955,655 shares of company stock worth $143,072,448 in the last three months. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Trading Down 7.1 %

HOOD opened at $44.73 on Thursday. The firm has a market capitalization of $39.61 billion, a PE ratio of 28.49, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The firm’s 50-day moving average price is $49.33 and its 200 day moving average price is $37.87.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal 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.