Assenagon Asset Management S.A. Has $103.91 Million Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Assenagon Asset Management S.A. increased its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 486.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,788,666 shares of the company's stock after acquiring an additional 2,313,213 shares during the period. Assenagon Asset Management S.A. owned approximately 0.32% of Robinhood Markets worth $103,906,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HOOD. FMR LLC raised its stake in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company's stock valued at $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. State Street Corp increased its stake in Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company's stock valued at $317,536,000 after buying an additional 1,085,679 shares during the period. Geode Capital Management LLC raised its position in shares of Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company's stock worth $271,708,000 after buying an additional 1,895,427 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Robinhood Markets by 33.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company's stock worth $107,298,000 after buying an additional 1,137,677 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Robinhood Markets by 20.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,481,794 shares of the company's stock worth $104,964,000 after acquiring an additional 769,281 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Up 9.1 %

Shares of Robinhood Markets stock traded up $3.80 during midday trading on Wednesday, hitting $45.56. The company's stock had a trading volume of 32,142,877 shares, compared to its average volume of 20,580,477. Robinhood Markets, Inc. has a 1-year low of $10.38 and a 1-year high of $46.22. The firm has a market capitalization of $40.27 billion, a P/E ratio of 77.22, a PEG ratio of 0.81 and a beta of 2.07. The stock has a 50-day simple moving average of $37.63 and a 200-day simple moving average of $27.75.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $637.00 million for the quarter, compared to analysts' expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company's revenue was up 36.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) EPS. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup increased their price target on Robinhood Markets from $25.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Piper Sandler raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an "overweight" rating in a research note on Monday, December 2nd. Morgan Stanley raised Robinhood Markets from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $24.00 to $55.00 in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Finally, KeyCorp lifted their price objective on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and an average price target of $42.47.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, November 4th. The stock was sold at an average price of $24.21, for a total transaction of $6,052,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $42.64, for a total value of $250,552.64. Following the completion of the transaction, the chief technology officer now directly owns 5,876 shares in the company, valued at approximately $250,552.64. The trade was a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,708,196 shares of company stock valued at $138,845,043. 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.