Alpha DNA Investment Management LLC Invests $774,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Alpha DNA Investment Management LLC purchased 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 institutional investor purchased 20,778 shares of the company's stock, valued at approximately $774,000.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its stake in shares of 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 last quarter. Norges Bank purchased a new stake in Robinhood Markets during the 4th quarter valued at about $329,598,000. GQG Partners LLC bought a new stake in Robinhood Markets during the 4th quarter valued at about $302,325,000. Artisan Partners Limited Partnership purchased a new position in Robinhood Markets in the fourth quarter worth about $152,949,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after buying an additional 3,091,514 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Up 6.8 %

NASDAQ HOOD traded up $2.72 during trading hours on Tuesday, reaching $42.57. The company's stock had a trading volume of 16,051,363 shares, compared to its average volume of 24,296,665. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The firm's 50-day moving average price is $44.89 and its 200-day moving average price is $40.41. The company has a market capitalization of $37.69 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HOOD. KeyCorp upped their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Compass Point began coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective for the company. JMP Securities decreased their target price on shares of Robinhood Markets from $77.00 to $70.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th. Finally, Needham & Company LLC dropped their price target on Robinhood Markets from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $55.06.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 223,072 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $41.24, for a total value of $9,199,489.28. Following the completion of the transaction, the director now owns 7,863 shares in the company, valued at approximately $324,270.12. The trade was a 96.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,784,193 shares of company stock valued at $137,892,219 in the last quarter. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Company Profile

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.