Golden State Wealth Management LLC Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Golden State Wealth Management LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,722 shares of the company’s stock, valued at approximately $101,000.

A number of other institutional investors and hedge funds have also bought and sold shares of HOOD. Allspring Global Investments Holdings LLC increased its position in Robinhood Markets by 1,211,858.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after acquiring an additional 3,817,355 shares during the period. Azora Capital LP acquired a new stake in Robinhood Markets in the third quarter valued at $79,780,000. FMR LLC raised its position in Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Robinhood Markets by 486.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock worth $103,906,000 after buying an additional 2,313,213 shares during the period. Finally, 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 valued at $271,708,000 after buying an additional 1,895,427 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Trading Up 5.1 %

HOOD opened at $55.86 on Monday. Robinhood Markets, Inc. has a 1-year low of $11.00 and a 1-year high of $55.98. The company has a market cap of $49.38 billion, a price-to-earnings ratio of 94.68, a PEG ratio of 0.73 and a beta of 2.13. The company’s fifty day moving average price is $43.49 and its two-hundred day moving average price is $31.26.

Analyst Ratings Changes

A number of research firms recently commented on HOOD. Barclays lifted their price objective on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. JMP Securities upped their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Morgan Stanley lifted their target price on shares of Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Sanford C. Bernstein upped their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Raymond James initiated coverage on Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.67.

Insider Buying and Selling

In other news, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the sale, the director now owns 4,974,238 shares in the company, valued at $199,516,686.18. This represents a 23.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the transaction, the insider now directly owns 706,642 shares in the company, valued at $36,462,727.20. The trade was a 3.42 % 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 worth $159,976,719 in the last quarter. Insiders own 19.95% of the company’s stock.

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.