Renaissance Technologies LLC Purchases 3,091,514 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Renaissance Technologies LLC increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 34.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,078,116 shares of the company's stock after purchasing an additional 3,091,514 shares during the quarter. Robinhood Markets accounts for 0.7% of Renaissance Technologies LLC's holdings, making the stock its 14th biggest position. Renaissance Technologies LLC owned about 1.37% of Robinhood Markets worth $450,031,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Dorsey & Whitney Trust CO LLC boosted its holdings 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 worth $368,000 after buying an additional 233 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock valued at $142,000 after acquiring an additional 277 shares in the last quarter. Spire Wealth Management boosted its stake in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after purchasing an additional 549 shares during the period. Allworth Financial LP grew its position in Robinhood Markets by 130.7% during the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company's stock worth $42,000 after purchasing an additional 643 shares in the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets during the 4th quarter valued at $26,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded up $3.17 during midday trading on Friday, hitting $43.68. The company's stock had a trading volume of 51,213,678 shares, compared to its average volume of 23,773,205. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The stock has a market capitalization of $38.68 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 1.05 and a beta of 2.17. The stock's 50 day simple moving average is $46.45 and its 200 day simple moving average is $39.50.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup decreased their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They set an "overweight" rating and a $69.00 price target for the company. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 27th. KeyCorp lifted their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Finally, Mizuho upped their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total transaction of $957,750.00. Following the completion of the transaction, the insider now owns 822,825 shares in the company, valued at $31,522,425.75. This trade represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the completion of the sale, the chief technology officer now owns 5,853 shares in the company, valued at approximately $201,987.03. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,651,987 shares of company stock valued at $132,806,233 in the last quarter. Corporate insiders own 19.95% of the company's stock.

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.