Absolute Gestao de Investimentos Ltda. Takes $439,000 Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,774 shares of the company's stock, valued at approximately $439,000.

Other hedge funds have also made changes to their positions in the company. FMR LLC boosted its holdings in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares during the period. Geode Capital Management LLC boosted its stake in Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after purchasing an additional 555,299 shares during the period. Renaissance Technologies LLC grew its position in Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after purchasing an additional 3,091,514 shares during the last quarter. Norges Bank bought a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $329,598,000. Finally, GQG Partners LLC acquired a new position in shares of Robinhood Markets during the fourth quarter worth approximately $302,325,000. Institutional investors own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HOOD. Wolfe Research cut shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Compass Point assumed coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective for the company. Mizuho boosted their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Needham & Company LLC decreased their target price on Robinhood Markets from $62.00 to $58.00 and set a "buy" rating for the company in a research note on Thursday. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.24.

Robinhood Markets Price Performance

HOOD traded up $1.97 on Friday, hitting $48.59. The company had a trading volume of 59,084,034 shares, compared to its average volume of 25,809,715. 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 price is $43.08 and its 200 day moving average price is $41.76. The stock has a market cap of $43.02 billion, a price-to-earnings ratio of 30.95, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released 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). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same period last year, the business earned $0.18 EPS. The business's quarterly revenue was up 50.0% compared to the same quarter last year. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at $36,462,727.20. The trade was a 3.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Insiders sold 2,334,593 shares of company stock worth $114,815,021 in the last quarter. 19.95% of the stock is owned by corporate 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.