Huntington National Bank Increases Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Huntington National Bank boosted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 360.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,652 shares of the company’s stock after purchasing an additional 1,293 shares during the period. Huntington National Bank’s holdings in Robinhood Markets were worth $62,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of HOOD. State Street Corp increased its holdings in shares of Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after buying an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC grew its position in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after acquiring an additional 555,299 shares during the period. Norges Bank acquired a new stake in Robinhood Markets during the fourth quarter worth $329,598,000. GQG Partners LLC purchased a new stake in Robinhood Markets in the fourth quarter valued at $302,325,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after purchasing an additional 138,267 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Mizuho raised their price objective on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Raymond James began coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating for the company. Citigroup decreased their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Needham & Company LLC dropped their target price on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a report on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $58.41.

Robinhood Markets Stock Up 2.6 %

Shares of Robinhood Markets stock opened at $35.41 on Tuesday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The company has a 50 day moving average of $47.91 and a 200 day moving average of $39.02. The company has a market capitalization of $31.35 billion, a P/E ratio of 22.55, a P/E/G ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at approximately $36,462,727.20. This represents a 3.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 90,866 shares of Robinhood Markets stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $50.67, for a total transaction of $4,604,180.22. Following the sale, the director now owns 5,042 shares in the company, valued at $255,478.14. This represents a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,646,134 shares of company stock valued at $132,604,246. 19.95% of the stock is currently owned by corporate insiders.

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.