Rhumbline Advisers Increases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Rhumbline Advisers boosted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 746,547 shares of the company's stock after purchasing an additional 15,468 shares during the quarter. Rhumbline Advisers owned about 0.08% of Robinhood Markets worth $27,816,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HOOD. Azora Capital LP bought a new stake in shares of Robinhood Markets in the third quarter valued at about $79,780,000. FMR LLC lifted its position in Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company's stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the period. Assenagon Asset Management S.A. lifted its position in Robinhood Markets by 486.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company's stock worth $103,906,000 after purchasing an additional 2,313,213 shares during the period. Geode Capital Management LLC lifted its position in Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company's stock worth $271,708,000 after purchasing an additional 1,895,427 shares during the period. Finally, Sparta 24 Ltd. lifted its position in Robinhood Markets by 905.8% during the third quarter. Sparta 24 Ltd. now owns 1,625,158 shares of the company's stock worth $38,061,000 after purchasing an additional 1,463,578 shares during the period. 93.27% of the stock is owned by institutional investors.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 522,180 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 5,042 shares of the company's stock, valued at $316,133.40. This trade represents a 99.04 % decrease in their position. The sale 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 on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 4,520,607 shares of company stock valued at $200,784,430. 19.95% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wolfe Research downgraded Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Citigroup increased their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a "neutral" rating in a research 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 company a "neutral" rating in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods increased their price target on Robinhood Markets from $38.00 to $60.00 and gave the stock a "market perform" rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.53.

Robinhood Markets Stock Down 6.5 %

NASDAQ HOOD traded down $3.63 on Friday, reaching $52.43. The company had a trading volume of 22,127,179 shares, compared to its average volume of 25,163,736. The stock has a market capitalization of $46.35 billion, a P/E ratio of 33.30, a P/E/G ratio of 1.11 and a beta of 2.13. The company's fifty day moving average is $47.19 and its 200 day moving average is $33.56. Robinhood Markets, Inc. has a 52-week low of $13.59 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.