Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Alpine Global Management LLC

Alpine Global Management LLC cut its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 70.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 328,918 shares of the company's stock after selling 800,584 shares during the quarter. Robinhood Markets makes up about 2.6% of Alpine Global Management LLC's investment portfolio, making the stock its 7th largest position. Alpine Global Management LLC's holdings in Robinhood Markets were worth $12,255,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MetLife Investment Management LLC lifted its position in shares of Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock worth $368,000 after buying an additional 233 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock worth $142,000 after buying an additional 277 shares during the period. Spire Wealth Management boosted its position in Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after acquiring an additional 549 shares in the last quarter. Finally, CoreCap Advisors LLC increased its holdings in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Up 3.1 %

Shares of Robinhood Markets stock traded up $1.47 on Friday, reaching $49.62. 29,383,809 shares of the stock were exchanged, compared to its average volume of 24,780,488. The business has a 50 day moving average price of $43.71 and a two-hundred day moving average price of $40.62. The firm has a market capitalization of $43.94 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating 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%. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets 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 transaction, the chief technology officer now directly owns 5,853 shares in the company, valued at approximately $201,987.03. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $31,470,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,193,327 shares of company stock valued at $107,903,039. 19.95% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a "market perform" rating on the stock. Mizuho raised their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 27th. Morgan Stanley cut shares of Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 target price for the company. in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.88.

Robinhood Markets 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.