AXQ Capital LP Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

AXQ Capital LP purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 7,831 shares of the company's stock, valued at approximately $292,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its stake in shares of Robinhood Markets by 85.3% during the third quarter. Victory Capital Management Inc. now owns 117,383 shares of the company's stock valued at $2,749,000 after purchasing an additional 54,046 shares during the period. Natixis Advisors LLC grew its holdings in Robinhood Markets by 44.0% during the 3rd quarter. Natixis Advisors LLC now owns 33,980 shares of the company's stock valued at $796,000 after purchasing an additional 10,376 shares in the last quarter. Quest Partners LLC increased its stake in Robinhood Markets by 1,008.4% during the 3rd quarter. Quest Partners LLC now owns 15,086 shares of the company's stock worth $353,000 after buying an additional 13,725 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Robinhood Markets in the 3rd quarter worth $365,000. Finally, Commerce Bank boosted its position in Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company's stock valued at $310,000 after buying an additional 423 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Down 1.7 %

HOOD stock traded down $0.74 during mid-day trading on Thursday, reaching $43.99. The company had a trading volume of 51,775,060 shares, compared to its average volume of 21,568,734. The stock's 50-day simple moving average is $49.33 and its two-hundred day simple moving average is $37.87. The stock has a market capitalization of $38.95 billion, a P/E ratio of 28.02, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91.

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Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays lifted their target price on Robinhood Markets from $54.00 to $76.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft cut their target price on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $38.00 to $60.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. Raymond James assumed coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating for the company. Finally, The Goldman Sachs Group upgraded shares of Robinhood Markets from a "neutral" rating to a "buy" rating and increased their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $61.29.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 47,023 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $46.37, for a total value of $2,180,456.51. Following the completion of the sale, the director now owns 5,042 shares of the company's stock, valued at $233,797.54. This represents a 90.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders sold 2,955,655 shares of company stock valued at $143,072,448 in the last three months. 19.95% of the stock is currently owned by corporate insiders.

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.