Hartford Investment Management Co. Makes New Investment in Robinhood Markets, Inc. $HOOD

Hartford Investment Management Co. purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 45,344 shares of the company’s stock, valued at approximately $6,492,000.

Several other large investors also recently bought and sold shares of the company. Jennison Associates LLC purchased a new stake in shares of Robinhood Markets during the third quarter worth approximately $322,823,000. Coordinated Financial Services Inc. acquired a new stake in Robinhood Markets during the 2nd quarter worth $403,000. Allstate Corp acquired a new stake in Robinhood Markets during the 3rd quarter worth $3,860,000. New Wave Wealth Advisors LLC grew its holdings in shares of Robinhood Markets by 479.4% during the third quarter. New Wave Wealth Advisors LLC now owns 13,331 shares of the company’s stock worth $1,909,000 after buying an additional 11,030 shares in the last quarter. Finally, National Pension Service raised its position in shares of Robinhood Markets by 9.6% in the third quarter. National Pension Service now owns 1,640,472 shares of the company’s stock valued at $234,883,000 after buying an additional 143,351 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $89.91 on Tuesday. The firm’s 50 day moving average price is $117.53 and its 200-day moving average price is $119.88. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86. The firm has a market cap of $80.85 billion, a P/E ratio of 37.31, a P/E/G ratio of 1.55 and a beta of 2.44.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.41 by $0.20. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The company’s quarterly revenue was up 100.0% on a year-over-year basis. During the same period last year, the business posted $0.17 earnings per share. As a group, research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of recent research reports. Bank of America lowered their price target on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Cantor Fitzgerald upgraded Robinhood Markets to a “strong-buy” rating in a research report on Tuesday, January 27th. Morgan Stanley boosted their price objective on Robinhood Markets from $146.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Monday, December 22nd. Zacks Research downgraded Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Barclays reduced their price target on Robinhood Markets from $171.00 to $159.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $136.62.

Insider Buying and Selling at Robinhood Markets

In other news, insider Steven M. Quirk sold 49,942 shares of Robinhood Markets stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total transaction of $6,549,893.30. Following the completion of the sale, the insider directly owned 54,496 shares of the company’s stock, valued at approximately $7,147,150.40. The trade was a 47.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $107.48, for a total value of $630,262.72. Following the transaction, the chief technology officer directly owned 9,133 shares of the company’s stock, valued at approximately $981,614.84. This represents a 39.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,805,075 shares of company stock worth $347,653,564 over the last ninety days. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.