Two Sigma Investments LP lessened its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 35.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,088,153 shares of the company's stock after selling 3,290,494 shares during the quarter. Two Sigma Investments LP owned about 0.69% of Robinhood Markets worth $226,845,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tybourne Capital Management HK Ltd. bought a new position in Robinhood Markets in the fourth quarter valued at about $2,861,000. Tairen Capital Ltd raised its stake in shares of Robinhood Markets by 267.9% during the fourth quarter. Tairen Capital Ltd now owns 625,500 shares of the company's stock worth $23,306,000 after buying an additional 455,500 shares during the last quarter. Temasek Holdings Private Ltd bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $53,832,000. Teza Capital Management LLC acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $2,043,000. Finally, True Wealth Design LLC boosted its position in shares of Robinhood Markets by 161.5% in the 4th quarter. True Wealth Design LLC now owns 3,313 shares of the company's stock worth $123,000 after purchasing an additional 2,046 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.
Insiders Place Their Bets
In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the sale, the chief technology officer now owns 5,853 shares of the company's stock, valued at approximately $201,987.03. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total value of $957,750.00. Following the transaction, the insider now directly owns 822,825 shares in the company, valued at $31,522,425.75. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,192,688 shares of company stock worth $107,043,646 in the last quarter. 14.47% of the stock is owned by company insiders.
Analyst Ratings Changes
HOOD has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on Robinhood Markets from $56.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. 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 report on Wednesday, April 2nd. Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a "market perform" rating on the stock. Piper Sandler increased their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Finally, 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 research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.41.
Read Our Latest Analysis on HOOD
Robinhood Markets Price Performance
Shares of HOOD traded down $1.44 during trading hours on Friday, hitting $63.34. The stock had a trading volume of 15,544,746 shares, compared to its average volume of 26,406,951. The firm has a 50 day simple moving average of $47.30 and a 200-day simple moving average of $44.63. The firm has a market capitalization of $56.08 billion, a P/E ratio of 40.14, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-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 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 firm had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same period in the previous year, the business earned $0.18 earnings per share. The firm's revenue for the quarter was up 50.0% on a year-over-year basis. Equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.
Robinhood Markets Company Profile
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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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