Cigna Investments Inc. New Invests $244,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cigna Investments Inc. New bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,556 shares of the company’s stock, valued at approximately $244,000.

Several other large investors have also bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the 4th quarter valued at about $26,000. HM Payson & Co. raised its holdings in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank acquired a new stake in Robinhood Markets during the third quarter valued at approximately $30,000. True Wealth Design LLC bought a new stake in Robinhood Markets during the third quarter worth approximately $30,000. Finally, ORG Wealth Partners LLC acquired a new position in Robinhood Markets in the third quarter worth approximately $33,000. Institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HOOD shares. Keefe, Bruyette & Woods increased 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. Raymond James assumed coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating for the company. Morgan Stanley lifted their price target on Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Barclays upped their price objective on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. raised shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $20.00 to $43.00 in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.67.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 90,866 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $55.34, for a total value of $5,028,524.44. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at approximately $279,024.28. This represents a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the transaction, the insider now directly owns 806,955 shares in the company, valued at $30,268,882.05. The trade was a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,948,427 shares of company stock worth $165,005,244 over the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Trading Down 5.2 %

NASDAQ HOOD opened at $53.34 on Wednesday. Robinhood Markets, Inc. has a 1-year low of $11.43 and a 1-year high of $57.27. The firm’s fifty day simple moving average is $44.16 and its 200-day simple moving average is $31.73. The company has a market capitalization of $47.15 billion, a PE ratio of 90.41, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13.

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.