Bridgewater Associates LP Boosts Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Bridgewater Associates LP boosted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 645.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,467,349 shares of the company's stock after buying an additional 2,136,393 shares during the period. Bridgewater Associates LP owned approximately 0.28% of Robinhood Markets worth $91,933,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the 4th quarter worth about $26,000. Creative Financial Designs Inc. ADV raised its stake in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares during the last quarter. Silicon Valley Capital Partners bought a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $37,000. Bogart Wealth LLC bought a new stake in Robinhood Markets during the fourth quarter worth $37,000. Finally, Spire Wealth Management raised its position in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after buying an additional 549 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Trading Up 1.3 %

Shares of NASDAQ HOOD traded up $0.52 during midday trading on Friday, hitting $41.18. The company's stock had a trading volume of 23,885,589 shares, compared to its average volume of 24,248,918. The firm has a market capitalization of $36.46 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 1.05 and a beta of 2.17. The stock has a fifty day moving average price of $45.22 and a 200 day moving average price of $40.05. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued 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, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares of the company's stock, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 223,072 shares of the business's stock in a transaction dated 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 transaction, the director now owns 7,863 shares of the company's stock, valued at approximately $324,270.12. The trade was a 96.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,784,193 shares of company stock valued at $137,892,219. Corporate insiders own 19.95% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Needham & Company LLC reduced their target price on Robinhood Markets from $70.00 to $62.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Cantor Fitzgerald began coverage on Robinhood Markets in a report on Thursday, March 6th. They set an "overweight" rating and a $69.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

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.