Generate Investment Management Ltd Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Generate Investment Management Ltd purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 322,737 shares of the company’s stock, valued at approximately $12,025,000.

Several other institutional investors have also made changes to their positions in HOOD. Golden State Wealth Management LLC acquired a new stake in Robinhood Markets during the fourth quarter valued at $101,000. Windmill Hill Asset Management Ltd purchased a new stake in shares of Robinhood Markets during the 4th quarter worth about $281,000. Consolidated Portfolio Review Corp purchased a new stake in shares of Robinhood Markets during the 4th quarter worth about $2,305,000. Adero Partners LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter valued at about $360,000. Finally, Bleakley Financial Group LLC bought a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $277,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Piper Sandler raised their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Barclays raised their price target on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, January 13th. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $43.00 in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, KeyCorp upped their price target on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $46.67.

Robinhood Markets Trading Down 1.9 %

HOOD opened at $53.17 on Friday. The stock’s 50 day simple moving average is $43.13 and its 200-day simple moving average is $30.91. The stock has a market cap of $47.00 billion, a PE ratio of 90.12, a P/E/G ratio of 0.70 and a beta of 2.13. Robinhood Markets, Inc. has a 1 year low of $10.64 and a 1 year high of $54.88.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the sale, the insider now directly owns 395,166 shares in the company, valued at $14,834,531.64. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 186,514 shares of Robinhood Markets stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the transaction, the director now directly owns 2,521 shares of the company’s stock, valued at approximately $96,125.73. The trade was a 98.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,857,561 shares of company stock valued at $159,976,719 in the last 90 days. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Company 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.