Aster Capital Management DIFC Ltd Cuts Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Aster Capital Management DIFC Ltd reduced its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 59.1% during the fourth quarter, HoldingsChannel reports. The fund owned 767 shares of the company’s stock after selling 1,108 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Robinhood Markets were worth $29,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HOOD. Norges Bank purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at $329,598,000. GQG Partners LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at $302,325,000. Artisan Partners Limited Partnership purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at $152,949,000. Raymond James Financial Inc. purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at $90,869,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of 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 valued at $103,906,000 after buying an additional 2,313,213 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 23.5 %

Shares of HOOD opened at $42.21 on Thursday. The business’s 50 day moving average is $46.85 and its 200 day moving average is $39.23. The company has a market capitalization of $37.38 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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 research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 90,866 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $45.27, for a total value of $4,113,503.82. Following the sale, the director now owns 5,042 shares of the company’s stock, valued at $228,251.34. The trade was a 94.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Vladimir Tenev sold 500,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total value of $25,385,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,651,987 shares of company stock valued at $132,806,233. 19.95% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on HOOD. Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating on the stock. Cantor Fitzgerald initiated coverage on Robinhood Markets in a research report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 target price on the stock. Morgan Stanley cut Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a research report on Tuesday. Citigroup dropped their target price on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, Compass Point initiated coverage on Robinhood Markets in a research report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.06.

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.