Baird Financial Group Inc. Invests $305,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Baird Financial Group Inc. purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 8,180 shares of the company’s stock, valued at approximately $305,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV boosted its holdings in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares in the last quarter. Silicon Valley Capital Partners bought a new stake in Robinhood Markets during the 4th quarter worth $37,000. Bogart Wealth LLC acquired a new position in Robinhood Markets in the 4th quarter worth about $37,000. Finally, Spire Wealth Management raised its position in Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after purchasing an additional 549 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on HOOD. Morgan Stanley boosted their price target on Robinhood Markets from $40.00 to $43.00 and gave the stock an “equal weight” rating in a report on Tuesday. JMP Securities reissued a “market outperform” rating and set a $70.00 target price on shares of Robinhood Markets in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $54.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. Cantor Fitzgerald cut their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.41.

Insider Buying and Selling at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the transaction, the chief technology officer now directly owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the sale, the insider now directly owns 706,642 shares of the company’s stock, valued at approximately $42,942,634.34. The trade was a 6.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,947,622 shares of company stock valued at $89,994,656. Company insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Up 1.8%

Shares of NASDAQ HOOD opened at $61.76 on Friday. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The firm has a market cap of $54.69 billion, a PE ratio of 39.34, a P/E/G ratio of 1.05 and a beta of 2.15. The company’s fifty day simple moving average is $45.27 and its 200 day simple moving average is $43.54.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The business’s quarterly revenue was up 50.0% on a year-over-year basis. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.