Lightspeed Management Company L.L.C. Acquires New Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Lightspeed Management Company L.L.C. acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,561 shares of the company’s stock, valued at approximately $1,549,000. Robinhood Markets comprises 0.4% of Lightspeed Management Company L.L.C.’s portfolio, making the stock its 8th biggest holding.

Other hedge funds also recently bought and sold shares of the company. Ellevest Inc. bought a new stake in Robinhood Markets during the fourth quarter valued at about $283,000. Engle Capital Management L.P. bought a new stake in Robinhood Markets during the fourth quarter valued at about $5,924,000. Ensign Peak Advisors Inc grew its holdings in Robinhood Markets by 122.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 406,872 shares of the company’s stock valued at $15,160,000 after purchasing an additional 223,716 shares during the period. Ethic Inc. grew its holdings in Robinhood Markets by 198.7% during the fourth quarter. Ethic Inc. now owns 42,878 shares of the company’s stock valued at $1,598,000 after purchasing an additional 28,523 shares during the period. Finally, FORA Capital LLC grew its holdings in Robinhood Markets by 67.7% during the fourth quarter. FORA Capital LLC now owns 293,764 shares of the company’s stock valued at $10,946,000 after purchasing an additional 118,601 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $54.65 on Monday. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The stock’s 50 day simple moving average is $43.38 and its two-hundred day simple moving average is $42.61. The company has a market cap of $48.39 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company had revenue of $927.00 million for the quarter, compared to analysts’ expectations of $917.12 million. During the same quarter last year, the company earned $0.18 earnings per share. The company’s revenue for the quarter was up 50.0% on a year-over-year basis. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s 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 sale, the chief technology officer now directly owns 17,559 shares in the company, valued at $821,936.79. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $47.69, for a total value of $1,192,250.00. Following the sale, the insider now owns 797,825 shares in the company, valued at approximately $38,048,274.25. This trade represents a 3.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,243,727 shares of company stock worth $109,688,747 over the last ninety days. Company insiders own 14.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on HOOD. Mizuho boosted their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Cantor Fitzgerald dropped their price objective on Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. KeyCorp dropped their price objective on Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Finally, Barclays dropped their price objective on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Six research 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 an average rating of “Moderate Buy” and an average price target of $53.24.

About Robinhood Markets

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.