Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 456,908 shares of the company’s stock after selling 7,398 shares during the quarter. Baker Avenue Asset Management LP owned approximately 0.05% of Robinhood Markets worth $17,024,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets during the fourth quarter worth $26,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares during the period. Silicon Valley Capital Partners purchased a new position in Robinhood Markets during the fourth quarter worth approximately $37,000. Bogart Wealth LLC acquired a new position in Robinhood Markets in the fourth quarter valued at $37,000. Finally, Coppell Advisory Solutions LLC purchased a new position in shares of Robinhood Markets in the 4th quarter worth about $41,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now directly owns 17,559 shares in the company, valued at $821,936.79. The trade was a 25.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 522,180 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,334,593 shares of company stock valued at $114,815,021 over the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $48.59 on Friday. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The stock’s 50 day moving average price is $43.08 and its 200 day moving average price is $41.66. The stock has a market cap of $43.02 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 1.05 and a beta of 2.17.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Needham & Company LLC cut their target price on Robinhood Markets from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday. KeyCorp cut their price objective on Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $70.00 price objective on shares of Robinhood Markets in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus 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.