Point72 Hong Kong Ltd Has $1.90 Million Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Point72 Hong Kong Ltd lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 370.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,031 shares of the company’s stock after buying an additional 40,179 shares during the period. Point72 Hong Kong Ltd’s holdings in Robinhood Markets were worth $1,901,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at $26,000. CoreCap Advisors LLC increased its holdings in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV increased its holdings in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares during the period. Colonial Trust Co SC acquired a new stake in Robinhood Markets in the fourth quarter valued at $34,000. Finally, Silicon Valley Capital Partners acquired a new stake in Robinhood Markets in the fourth quarter valued at $37,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HOOD. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. JMP Securities reaffirmed a “market outperform” rating and set a $70.00 target price on shares of Robinhood Markets in a research note on Thursday, May 1st. Raymond James started coverage on Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating for the company. The Goldman Sachs Group raised their target price on Robinhood Markets from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Mizuho raised their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.41.

Robinhood Markets Stock Down 1.2%

HOOD stock opened at $60.68 on Friday. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The stock’s 50 day moving average is $44.76 and its 200-day moving average is $43.31. The firm has a market capitalization of $53.73 billion, a PE ratio of 38.65, a P/E/G ratio of 1.05 and a beta of 2.15.

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

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the sale, the insider now directly owns 706,642 shares in the company, valued at $42,942,634.34. The trade was a 6.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 223,528 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $43.21, for a total value of $9,658,644.88. Following the completion of the sale, the director now owns 5,042 shares in the company, valued at approximately $217,864.82. The trade was a 97.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,947,622 shares of company stock worth $89,994,656. 14.47% of the stock is owned by company insiders.

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.