Southpoint Capital Advisors LP bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,500,000 shares of the company's stock, valued at approximately $130,410,000. Robinhood Markets makes up about 3.1% of Southpoint Capital Advisors LP's investment portfolio, making the stock its 13th largest holding. Southpoint Capital Advisors LP owned 0.40% of Robinhood Markets at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc grew its holdings in shares of Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after purchasing an additional 3,769 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 period. Atomi Financial Group Inc. grew its stake in Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock worth $20,154,000 after buying an additional 92,613 shares during the last quarter. Requisite Capital Management LLC purchased a new position in Robinhood Markets during the 4th quarter worth approximately $266,000. Finally, Aigen Investment Management LP increased its position in Robinhood Markets by 161.2% during the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock worth $3,199,000 after buying an additional 52,988 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.
Robinhood Markets Trading Down 1.7%
Shares of HOOD traded down $1.08 during mid-day trading on Friday, hitting $63.69. The company's stock had a trading volume of 18,508,592 shares, compared to its average volume of 39,735,121. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The firm has a market capitalization of $56.40 billion, a P/E ratio of 40.57, a P/E/G ratio of 1.05 and a beta of 2.15. The firm has a 50-day simple moving average of $47.30 and a 200 day simple moving average of $44.63.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same period last year, the business posted $0.18 EPS. Robinhood Markets's revenue was up 50.0% compared to the same quarter last year. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.
Insider Buying and Selling
In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total value of $26,966,067.48. Following the sale, the director now owns 7,863 shares of the company's stock, valued at $506,848.98. This represents a 98.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,192,688 shares of company stock valued at $107,043,646. Corporate insiders own 14.47% of the company's stock.
Wall Street Analysts Forecast Growth
HOOD has been the subject of several research analyst reports. Piper Sandler increased their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Citigroup decreased their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a research report on Thursday, March 27th. Needham & Company LLC lifted their price objective on shares of Robinhood Markets from $58.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.41.
Read Our Latest Stock Analysis on HOOD
About Robinhood Markets
(
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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