Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 46,982 shares of the company's stock, valued at approximately $1,751,000. Robinhood Markets accounts for about 0.4% of Arrowpoint Investment Partners Singapore Pte. Ltd.'s holdings, making the stock its 23rd biggest position.
Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its stake in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares during the period. Norges Bank bought a new position in Robinhood Markets in the fourth quarter worth about $329,598,000. GQG Partners LLC bought a new stake in Robinhood Markets during the 4th quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership purchased a new position in shares of Robinhood Markets during the 4th quarter worth approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after acquiring an additional 3,994,745 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.
Insider Activity at Robinhood Markets
In related news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the completion of the transaction, the director now owns 7,863 shares in the company, valued at $506,848.98. The trade was a 98.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,192,688 shares of company stock worth $107,043,646. 14.47% of the stock is owned by insiders.
Robinhood Markets Stock Performance
Shares of HOOD stock traded down $1.60 during trading hours on Friday, reaching $63.17. The company had a trading volume of 28,522,162 shares, compared to its average volume of 26,511,946. The firm has a market cap of $55.93 billion, a PE ratio of 40.24, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The business has a fifty day moving average price of $47.76 and a 200-day moving average price of $45.00. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Robinhood Markets's quarterly revenue was up 50.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.
Analysts Set New Price Targets
A number of analysts have recently commented on HOOD shares. JMP Securities reaffirmed a "market outperform" rating and issued a $70.00 target price on shares of Robinhood Markets in a research report on Thursday, May 1st. The Goldman Sachs Group raised their target price on shares of Robinhood Markets from $56.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $54.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Barclays lowered their price objective on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Finally, Wolfe Research cut Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $55.41.
Read Our Latest Analysis on HOOD
Robinhood Markets Company Profile
(
Free Report)
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.
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