Marshall Wace LLP Cuts Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Marshall Wace LLP cut its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,997,903 shares of the company's stock after selling 156,548 shares during the period. Marshall Wace LLP owned 0.23% of Robinhood Markets worth $74,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HOOD. FMR LLC increased its position in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares during the last quarter. Geode Capital Management LLC increased its holdings in Robinhood Markets by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after purchasing an additional 555,299 shares during the last quarter. Renaissance Technologies LLC raised its position in Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after purchasing an additional 3,091,514 shares during the period. Norges Bank acquired a new position in Robinhood Markets during the fourth quarter worth $329,598,000. Finally, GQG Partners LLC purchased a new position in shares of Robinhood Markets during the fourth quarter worth $302,325,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HOOD shares. Deutsche Bank Aktiengesellschaft decreased their target price on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Needham & Company LLC lowered their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Raymond James assumed coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a "market perform" rating on the stock. Wolfe Research cut shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Finally, Mizuho upped their price objective on Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.06.

Robinhood Markets Trading Up 1.3 %

NASDAQ:HOOD traded up $0.52 during midday trading on Friday, hitting $41.18. 23,885,589 shares of the company were exchanged, compared to its average volume of 24,248,918. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The company has a market capitalization of $36.46 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The company has a fifty day simple moving average of $45.22 and a 200 day simple moving average of $40.05.

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

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 500,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total transaction of $25,385,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the chief technology officer now directly owns 5,853 shares of the company's stock, 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 2,784,193 shares of company stock worth $137,892,219 in the last 90 days. 19.95% of the stock is owned by insiders.

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.