Voloridge Investment Management LLC Sells 1,129,081 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Voloridge Investment Management LLC reduced its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 22.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,981,912 shares of the company’s stock after selling 1,129,081 shares during the quarter. Robinhood Markets accounts for 0.5% of Voloridge Investment Management LLC’s portfolio, making the stock its 27th biggest holding. Voloridge Investment Management LLC’s holdings in Robinhood Markets were worth $148,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HOOD. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets during the fourth quarter valued at $26,000. CoreCap Advisors LLC increased its position in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares during the last quarter. Colonial Trust Co SC purchased a new stake in Robinhood Markets during the fourth quarter valued at $34,000. Finally, Silicon Valley Capital Partners purchased a new stake in Robinhood Markets during the fourth quarter valued at $37,000. 93.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays reduced their price objective on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Needham & Company LLC upped their price target on Robinhood Markets from $58.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Mizuho upped their price target on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $54.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Finally, JMP Securities restated a “market outperform” rating and issued a $70.00 price target on shares of Robinhood Markets in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.41.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $64.27 on Tuesday. The stock has a market capitalization of $56.91 billion, a price-to-earnings ratio of 40.94, a PEG ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The business has a fifty day moving average price of $45.78 and a 200-day moving average price of $44.07.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS 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 firm had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same period in the prior year, the firm posted $0.18 EPS. The business’s revenue was up 50.0% compared to the same quarter last year. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 123,272 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 298,826 shares of the company’s stock, valued at $16,674,490.80. The trade was a 29.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 223,528 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $43.21, for a total value of $9,658,644.88. Following the completion of the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $217,864.82. This trade represents a 97.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,897,622 shares of company stock valued at $86,956,156. 14.47% of the stock is owned by company insiders.

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.