Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. cut its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 71.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 436,353 shares of the company’s stock after selling 1,111,847 shares during the period. Point72 Asset Management L.P.’s holdings in Robinhood Markets were worth $16,259,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HOOD. New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets in the 4th quarter valued at about $26,000. CoreCap Advisors LLC raised its holdings in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after acquiring an additional 550 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings 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 purchasing an additional 750 shares during the last quarter. Colonial Trust Co SC purchased a new position in Robinhood Markets in the fourth quarter worth approximately $34,000. Finally, Silicon Valley Capital Partners purchased a new position in Robinhood Markets during the fourth quarter worth about $37,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Cantor Fitzgerald dropped their target price on Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Morgan Stanley upped their price objective on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 13th. Mizuho raised their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Compass Point assumed coverage on Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $54.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.41.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 107,608 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $60.41, for a total transaction of $6,500,599.28. Following the transaction, the director now owns 7,863 shares in the company, valued at $475,003.83. The trade was a 93.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 123,272 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the transaction, the insider now directly owns 298,826 shares in the company, valued at $16,674,490.80. This trade represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,947,622 shares of company stock valued at $89,994,656 in the last 90 days. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Price Performance

Shares of HOOD opened at $61.76 on Friday. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The stock has a market cap of $54.69 billion, a price-to-earnings ratio of 39.34, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The firm has a 50 day simple moving average of $45.27 and a 200-day simple moving average of $43.65.

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

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.