Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Purchased by Newlands Management Operations LLC

Newlands Management Operations LLC grew its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,158,860 shares of the company’s stock after purchasing an additional 273,860 shares during the period. Robinhood Markets comprises about 5.7% of Newlands Management Operations LLC’s portfolio, making the stock its 6th largest position. Newlands Management Operations LLC owned approximately 2.73% of Robinhood Markets worth $900,159,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. bought a new stake in Robinhood Markets in the 3rd quarter valued at $6,321,000. Wedmont Private Capital acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at about $386,000. Pallas Capital Advisors LLC lifted its holdings in shares of Robinhood Markets by 51.3% in the fourth quarter. Pallas Capital Advisors LLC now owns 31,657 shares of the company’s stock valued at $1,180,000 after purchasing an additional 10,727 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Robinhood Markets by 34.6% in the fourth quarter. AdvisorNet Financial Inc now owns 3,372 shares of the company’s stock valued at $126,000 after purchasing an additional 867 shares in the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Robinhood Markets during the fourth quarter worth about $254,000. 93.27% of the stock is owned by institutional investors.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 522,180 shares of the 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 transaction, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. This represents a 99.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction on 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 sale, the insider now owns 706,642 shares of the company’s stock, valued at $42,942,634.34. This represents a 6.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,362,194 shares of company stock worth $116,234,743 in the last 90 days. Corporate insiders own 14.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HOOD shares. Barclays dropped their target price on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft reduced their price target on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Finally, KeyCorp reduced their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.41.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $62.57 on Wednesday. The firm has a market cap of $55.40 billion, a price-to-earnings ratio of 39.85, a PEG ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The firm has a 50 day moving average price of $43.92 and a two-hundred day moving average price of $42.96.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results 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 during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Robinhood Markets’s quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS 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.