684,129 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 684,129 shares of the company's stock, valued at approximately $25,491,000. Arrowstreet Capital Limited Partnership owned approximately 0.08% of Robinhood Markets as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Allstate Corp purchased a new position in Robinhood Markets in the 4th quarter valued at about $589,000. DnB Asset Management AS lifted its stake in shares of Robinhood Markets by 33.7% in the fourth quarter. DnB Asset Management AS now owns 113,839 shares of the company's stock worth $4,242,000 after acquiring an additional 28,725 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Robinhood Markets by 64.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 16,179 shares of the company's stock valued at $603,000 after purchasing an additional 6,312 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in Robinhood Markets by 2.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 191,105 shares of the company's stock valued at $7,121,000 after purchasing an additional 3,992 shares in the last quarter. Finally, Norges Bank acquired a new stake in Robinhood Markets during the 4th quarter valued at approximately $329,598,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD traded down $3.75 during midday trading on Friday, reaching $34.51. 80,274,797 shares of the company traded hands, compared to its average volume of 22,588,727. The company has a market cap of $30.56 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.05 and a beta of 2.14. The stock has a 50-day moving average price of $48.15 and a 200 day moving average price of $38.71. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91.

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Citigroup reduced their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday. Mizuho raised their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $60.24.

Insider Buying and Selling

In other Robinhood Markets news, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $42.64, for a total value of $250,552.64. Following the sale, the chief technology officer now owns 5,876 shares of the company's stock, valued at $250,552.64. This trade represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,627,010 shares of company stock valued at $131,897,049 over the last quarter. Corporate insiders own 19.95% of the company's stock.

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.