Polar Capital Holdings Plc Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Polar Capital Holdings Plc acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,361,555 shares of the company’s stock, valued at approximately $125,252,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets during the 4th quarter worth approximately $26,000. CoreCap Advisors LLC grew its position 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 in the last quarter. Creative Financial Designs Inc. ADV increased its stake in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 shares during the last quarter. Colonial Trust Co SC bought a new stake in Robinhood Markets during the 4th quarter worth about $34,000. Finally, Silicon Valley Capital Partners bought a new stake in Robinhood Markets during the 4th quarter worth about $37,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $61.39 on Thursday. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The stock’s fifty day moving average price is $44.26 and its two-hundred day moving average price is $43.08. The firm has a market cap of $54.36 billion, a price-to-earnings ratio of 39.10, a P/E/G ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate 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 firm’s revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 earnings per share. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HOOD. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $54.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James started coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Citigroup dropped their price objective on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. 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 upped their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.41.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 123,272 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the sale, the insider now directly owns 298,826 shares of the company’s stock, valued at approximately $16,674,490.80. This represents a 29.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the transaction, the insider now directly owns 706,642 shares of the company’s stock, valued at approximately $42,942,634.34. This trade represents a 6.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,840,014 shares of company stock worth $83,494,057 in the last 90 days. Company insiders own 14.47% of the company’s stock.

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.