Quantessence Capital LLC Takes $1.06 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Quantessence Capital LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,320 shares of the company’s stock, valued at approximately $1,055,000.

A number of other large investors have also recently added to or reduced their stakes in HOOD. FMR LLC boosted its holdings in shares of Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the period. Geode Capital Management LLC increased its stake in shares of Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after purchasing an additional 555,299 shares during the period. Renaissance Technologies LLC lifted its position in shares of Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock worth $450,031,000 after purchasing an additional 3,091,514 shares during the last quarter. Norges Bank bought a new stake in Robinhood Markets during the 4th quarter valued at approximately $329,598,000. Finally, GQG Partners LLC acquired a new stake in Robinhood Markets in the 4th quarter valued at approximately $302,325,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Down 3.2 %

Shares of Robinhood Markets stock opened at $39.85 on Tuesday. The stock has a market capitalization of $35.29 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The firm’s 50-day moving average price is $44.89 and its two-hundred day moving average price is $40.41.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 90,866 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $50.67, for a total value of $4,604,180.22. Following the completion of the transaction, the director now owns 5,042 shares in the company, valued at $255,478.14. The trade was a 94.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were 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. Insiders have sold a total of 2,784,193 shares of company stock worth $137,892,219 in the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reduced their price objective on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Barclays decreased their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. JMP Securities reduced their target price on shares of Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating for the company in a research note on Tuesday, April 8th. Piper Sandler upped their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.06.

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.