Adero Partners LLC Invests $360,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Adero Partners LLC acquired a new stake 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 (SEC). The institutional investor acquired 9,658 shares of the company’s stock, valued at approximately $360,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC bought a new position in shares of Robinhood Markets in the 4th quarter worth approximately $277,000. Choreo LLC purchased a new stake in Robinhood Markets during the fourth quarter valued at approximately $288,000. Nvwm LLC raised its position in Robinhood Markets by 26,794.1% in the fourth quarter. Nvwm LLC now owns 22,860 shares of the company’s stock worth $852,000 after acquiring an additional 22,775 shares during the period. WT Asset Management Ltd purchased a new position in shares of Robinhood Markets during the 4th quarter worth $1,528,000. Finally, Yousif Capital Management LLC bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $321,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity

In other news, Director Meyer Malka sold 1,535,681 shares of Robinhood Markets stock in a transaction that occurred 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 completion of the transaction, the director now owns 4,974,238 shares in the company, valued at approximately $199,516,686.18. The trade was a 23.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were 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. Insiders sold a total of 3,857,561 shares of company stock worth $159,976,719 over the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HOOD. Sanford C. Bernstein raised their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft lifted 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. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. Finally, Citigroup lifted their price target on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.73.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $54.20 on Thursday. The company has a market cap of $47.91 billion, a P/E ratio of 91.87, a P/E/G ratio of 0.70 and a beta of 2.13. Robinhood Markets, Inc. has a 52-week low of $10.53 and a 52-week high of $54.33. The firm’s fifty day moving average is $42.82 and its two-hundred day moving average is $30.75.

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.