ExodusPoint Capital Management LP Grows Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

ExodusPoint Capital Management LP boosted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 199.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 354,238 shares of the company's stock after buying an additional 236,079 shares during the quarter. ExodusPoint Capital Management LP's holdings in Robinhood Markets were worth $13,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Arete Wealth Advisors LLC bought a new position in shares of Robinhood Markets during the fourth quarter valued at $272,000. World Investment Advisors bought a new stake in shares of Robinhood Markets in the 4th quarter worth about $253,000. Westpac Banking Corp bought a new stake in Robinhood Markets during the 4th quarter valued at about $1,139,000. Cynosure Group LLC purchased a new position in Robinhood Markets during the 4th quarter valued at about $832,000. Finally, Huntington National Bank lifted its position in Robinhood Markets by 360.2% during the fourth quarter. Huntington National Bank now owns 1,652 shares of the company's stock valued at $62,000 after acquiring an additional 1,293 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

HOOD traded down $3.75 during trading on Friday, hitting $34.51. 80,274,797 shares of the stock traded hands, compared to its average volume of 22,588,727. The firm has a 50-day moving average of $48.15 and a 200 day moving average of $38.71. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The firm has a market capitalization of $30.56 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

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Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released 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 return on equity of 13.53% and a net margin of 47.81%. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 90,866 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $45.27, for a total value of $4,113,503.82. Following the sale, the director now directly owns 5,042 shares of the company's stock, valued at $228,251.34. This represents a 94.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the transaction, the chief technology officer now owns 17,559 shares of the company's stock, valued at approximately $821,936.79. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,627,010 shares of company stock worth $131,897,049. 19.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HOOD. KeyCorp raised their target price on Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Citigroup cut their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Finally, Raymond James started coverage on Robinhood Markets in a research report on Wednesday, February 5th. They issued a "market perform" rating on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.24.

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.