Cullinan Associates Inc. Acquires Shares of 6,800 Robinhood Markets, Inc. (NASDAQ:HOOD)

Cullinan Associates Inc. bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,800 shares of the company’s stock, valued at approximately $253,000.

Several other hedge funds also recently made changes to their positions in the company. FMR LLC grew its position in shares of Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after acquiring an additional 3,368,118 shares in the last quarter. State Street Corp grew its position in shares of Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after acquiring an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Robinhood Markets by 33.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after acquiring an additional 1,137,677 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Robinhood Markets by 20.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,481,794 shares of the company’s stock worth $104,964,000 after acquiring an additional 769,281 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on HOOD. KeyCorp lifted their target price on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Morgan Stanley boosted their price objective on Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, JMP Securities boosted their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.73.

Robinhood Markets Stock Performance

HOOD opened at $52.58 on Wednesday. Robinhood Markets, Inc. has a one year low of $10.51 and a one year high of $53.51. The stock’s fifty day moving average is $42.49 and its 200-day moving average is $30.59. The company has a market capitalization of $46.48 billion, a PE ratio of 89.12, a P/E/G ratio of 0.70 and a beta of 2.13.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $47.82, for a total transaction of $280,990.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the sale, the director now directly owns 4,974,238 shares in the company, valued at $199,516,686.18. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,938,436 shares of company stock valued at $161,862,969. Corporate insiders own 19.95% of the company’s stock.

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.