Blueshift Asset Management LLC Has $2.18 Million Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Blueshift Asset Management LLC reduced its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 59.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,409 shares of the company's stock after selling 86,532 shares during the period. Robinhood Markets comprises 0.8% of Blueshift Asset Management LLC's investment portfolio, making the stock its 16th biggest position. Blueshift Asset Management LLC's holdings in Robinhood Markets were worth $2,176,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC grew its position in shares of Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after purchasing an additional 233 shares during the period. First Horizon Advisors Inc. grew its position in shares of Robinhood Markets by 7.8% in the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock valued at $142,000 after purchasing an additional 277 shares during the period. Commerce Bank grew its position in shares of Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company's stock valued at $310,000 after purchasing an additional 423 shares during the period. Spire Wealth Management grew its position in shares of Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after purchasing an additional 549 shares during the period. Finally, Allworth Financial LP grew its position in shares of Robinhood Markets by 130.7% in the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company's stock valued at $42,000 after purchasing an additional 643 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the sale, the insider now owns 806,955 shares of the company's stock, valued at approximately $30,268,882.05. This represents a 27.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares of the company's stock, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,979,251 shares of company stock worth $142,232,560. Insiders own 19.95% of the company's stock.

Robinhood Markets Price Performance

HOOD stock traded up $0.70 during midday trading on Friday, hitting $44.36. The company's stock had a trading volume of 43,555,704 shares, compared to its average volume of 21,094,221. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The company's fifty day moving average price is $49.04 and its 200 day moving average price is $37.28. The stock has a market capitalization of $39.28 billion, a P/E ratio of 28.25, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share 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 analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of research reports. Morgan Stanley boosted their price objective on Robinhood Markets from $64.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Barclays boosted their price objective on Robinhood Markets from $54.00 to $76.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their price target on Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft cut their price target on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Finally, Needham & Company LLC boosted their price objective on Robinhood Markets from $52.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.29.

About Robinhood Markets

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.