Jasper Ridge Partners L.P. Decreases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Jasper Ridge Partners L.P. decreased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 32.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 122,631 shares of the company’s stock after selling 57,625 shares during the quarter. Jasper Ridge Partners L.P.’s holdings in Robinhood Markets were worth $4,569,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HOOD. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter worth $26,000. CoreCap Advisors LLC raised 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 during the period. Creative Financial Designs Inc. ADV raised its position 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 position in shares of Robinhood Markets during the fourth quarter worth about $34,000. Finally, Silicon Valley Capital Partners purchased a new stake in shares of Robinhood Markets in the fourth quarter worth about $37,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, 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 transaction 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 $42,942,634.34. The trade was a 6.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 94,156 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $50.67, for a total transaction of $4,770,884.52. Following the completion of the sale, the director now owns 7,863 shares in the company, valued at $398,418.21. The trade was a 92.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,243,727 shares of company stock worth $109,688,747 in the last 90 days. 14.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

HOOD has been the topic of several analyst reports. Mizuho raised their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Compass Point began coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $70.00 price target on shares of Robinhood Markets in a report on Thursday, May 1st. KeyCorp cut their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Morgan Stanley downgraded Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 target price for the company. in a research note on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $53.24.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $54.65 on Friday. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The company’s fifty day moving average is $43.38 and its two-hundred day moving average is $42.50. The stock has a market capitalization of $48.39 billion, a price-to-earnings ratio of 34.81, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million during 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 EPS. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Robinhood Markets Profile

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.