Senator Investment Group LP Lowers Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Senator Investment Group LP decreased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 10.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,782,005 shares of the company's stock after selling 217,995 shares during the period. Robinhood Markets comprises 1.9% of Senator Investment Group LP's portfolio, making the stock its 9th biggest position. Senator Investment Group LP owned about 0.20% of Robinhood Markets worth $66,398,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of HOOD. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets during the fourth quarter worth approximately $26,000. Creative Financial Designs Inc. ADV lifted its holdings in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after buying an additional 750 shares in the last quarter. Silicon Valley Capital Partners bought a new position in Robinhood Markets in the 4th quarter valued at $37,000. Bogart Wealth LLC acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at $37,000. Finally, Spire Wealth Management raised its position in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after acquiring an additional 549 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Activity at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the transaction, the chief technology officer now directly owns 17,559 shares in the company, valued at approximately $821,936.79. The trade was a 25.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the sale, the director now owns 5,042 shares in the company, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,193,327 shares of company stock valued at $107,903,039. 19.95% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent research reports. Citigroup decreased their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Compass Point initiated coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 target price on the stock. Needham & Company LLC dropped their price target 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. Wolfe Research cut shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley lowered shares of Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 target price for the company. in a report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average target price of $53.88.

Robinhood Markets Price Performance

HOOD stock traded up $2.66 during midday trading on Wednesday, hitting $44.75. The company's stock had a trading volume of 48,790,400 shares, compared to its average volume of 24,616,498. The company's fifty day moving average price is $44.05 and its 200 day moving average price is $40.45. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The stock has a market capitalization of $39.62 billion, a P/E ratio of 28.50, a PEG ratio of 1.05 and a beta of 2.17.

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

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.