Clearbridge Investments LLC Makes New $50.26 Million Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Clearbridge Investments LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,348,839 shares of the company’s stock, valued at approximately $50,258,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Cerity Partners LLC lifted its stake in Robinhood Markets by 32.2% in the 3rd quarter. Cerity Partners LLC now owns 107,629 shares of the company’s stock valued at $2,521,000 after acquiring an additional 26,245 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Robinhood Markets by 8.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,178,669 shares of the company’s stock worth $51,024,000 after purchasing an additional 177,395 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Robinhood Markets by 31.0% during the third quarter. Captrust Financial Advisors now owns 18,942 shares of the company’s stock worth $444,000 after purchasing an additional 4,487 shares during the last quarter. Verition Fund Management LLC grew its position in Robinhood Markets by 34.2% in the third quarter. Verition Fund Management LLC now owns 81,843 shares of the company’s stock valued at $1,917,000 after purchasing an additional 20,838 shares in the last quarter. Finally, True Wealth Design LLC acquired a new stake in Robinhood Markets in the 3rd quarter valued at $30,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 47,023 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $46.37, for a total value of $2,180,456.51. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at approximately $233,797.54. The trade was a 90.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,955,655 shares of company stock worth $143,072,448. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Trading Down 0.7 %

Robinhood Markets stock opened at $41.62 on Tuesday. The company has a market capitalization of $36.85 billion, a price-to-earnings ratio of 26.51, a PEG 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. The stock’s 50 day moving average is $49.03 and its 200-day moving average is $38.46.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 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%. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HOOD shares. Needham & Company LLC reduced their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday. Cantor Fitzgerald initiated coverage on Robinhood Markets in a report on Thursday, March 6th. They set an “overweight” rating and a $69.00 target price on the stock. Piper Sandler raised their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. KeyCorp upped their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, JMP Securities raised their target price 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. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $60.82.

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.