Atomi Financial Group Inc. Purchases 92,613 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Atomi Financial Group Inc. boosted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 20.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 540,910 shares of the company’s stock after purchasing an additional 92,613 shares during the period. Robinhood Markets comprises about 1.0% of Atomi Financial Group Inc.’s investment portfolio, making the stock its 22nd biggest position. Atomi Financial Group Inc. owned 0.06% of Robinhood Markets worth $20,154,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HM Payson & Co. increased its stake in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares in the last quarter. True Wealth Design LLC bought a new stake in Robinhood Markets during the 3rd quarter worth about $30,000. Eastern Bank acquired a new stake in Robinhood Markets in the 3rd quarter valued at about $30,000. ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets in the third quarter worth about $33,000. Finally, Connective Portfolio Management LLC acquired a new position in shares of Robinhood Markets during the third quarter worth approximately $47,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of research reports. JPMorgan Chase & Co. raised shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their price target for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Piper Sandler boosted their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Finally, Morgan Stanley boosted their price objective on Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.07.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 108,964 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.92, for a total transaction of $2,715,382.88. Following the completion of the transaction, the director now directly owns 2,521 shares in the company, valued at approximately $62,823.32. This trade represents a 97.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $24.21, for a total value of $6,052,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 3,700,658 shares of company stock worth $140,360,682. 19.95% of the stock is owned by company insiders.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $48.15 on Tuesday. The firm has a market capitalization of $42.56 billion, a price-to-earnings ratio of 81.61, a PEG ratio of 0.70 and a beta of 2.07. The company’s 50 day simple moving average is $38.94 and its 200 day simple moving average is $28.43. Robinhood Markets, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $49.27.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. The business’s revenue was up 36.4% on a year-over-year basis. As a group, analysts predict that Robinhood Markets, Inc. will post 0.91 EPS for the current fiscal year.

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.