Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Purchased by Trexquant Investment LP

Trexquant Investment LP lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 7.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 479,551 shares of the company’s stock after acquiring an additional 32,294 shares during the period. Trexquant Investment LP’s holdings in Robinhood Markets were worth $17,868,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Robinhood Markets in the fourth quarter worth $329,598,000. GQG Partners LLC bought a new position in shares of Robinhood Markets in the 4th quarter worth about $302,325,000. Artisan Partners Limited Partnership acquired a new position in shares of Robinhood Markets in the 4th quarter valued at about $152,949,000. Raymond James Financial Inc. bought a new stake in shares of Robinhood Markets during the 4th quarter valued at about $90,869,000. Finally, Assenagon Asset Management S.A. raised its stake 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 acquiring an additional 2,313,213 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Raymond James assumed coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Cantor Fitzgerald started coverage on Robinhood Markets in a research note on Thursday, March 6th. They set an “overweight” rating and a $69.00 price objective for the company. Piper Sandler raised their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Finally, Morgan Stanley lifted their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.82.

Insider Buying and Selling

In other news, insider Steven M. Quirk sold 123,272 shares of Robinhood Markets stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $55.80, for a total value of $6,878,577.60. Following the transaction, the insider now directly owns 298,826 shares of the company’s stock, valued at $16,674,490.80. This trade represents a 29.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders have sold 2,955,655 shares of company stock worth $143,072,448 in the last three months. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Trading Up 1.3 %

Shares of Robinhood Markets stock opened at $42.16 on Wednesday. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The company’s 50-day moving average price is $48.88 and its two-hundred day moving average price is $38.60. The stock has a market cap of $37.33 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating 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%. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.