Aigen Investment Management LP Has $1.44 Million Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Aigen Investment Management LP reduced its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 59.7% in the first quarter, Holdings Channel reports. The institutional investor owned 34,562 shares of the company’s stock after selling 51,306 shares during the period. Aigen Investment Management LP’s holdings in Robinhood Markets were worth $1,438,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HOOD. Vanguard Group Inc. grew its holdings in shares of Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock worth $193,202,000 after purchasing an additional 3,994,745 shares during the last quarter. Wealthquest Corp purchased a new position in Robinhood Markets during the first quarter worth about $156,193,000. AQR Capital Management LLC boosted its holdings in Robinhood Markets by 231.9% during the fourth quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company’s stock worth $195,907,000 after purchasing an additional 3,673,861 shares during the last quarter. Finally, Southpoint Capital Advisors LP purchased a new position in Robinhood Markets during the fourth quarter worth about $130,410,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 10,518 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $100.10, for a total transaction of $1,052,851.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven M. Quirk sold 40,131 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $104.71, for a total transaction of $4,202,117.01. Following the sale, the insider owned 120,408 shares of the company’s stock, valued at $12,607,921.68. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,752,293 shares of company stock worth $436,586,556 in the last ninety days. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $114.63 on Monday. Robinhood Markets, Inc. has a 52-week low of $17.55 and a 52-week high of $117.00. The stock has a market capitalization of $101.87 billion, a price-to-earnings ratio of 58.19, a price-to-earnings-growth ratio of 4.37 and a beta of 2.36. The company has a fifty day moving average of $91.32 and a 200-day moving average of $64.19.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. During the same quarter in the prior year, the company earned $0.21 EPS. The firm’s revenue was up 45.0% on a year-over-year basis. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HOOD shares. Cantor Fitzgerald boosted their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. KeyCorp boosted their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Redburn Atlantic restated a “sell” rating and set a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Barclays lifted their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.29.

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.