Voleon Capital Management LP Buys New Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Voleon Capital Management LP purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 148,251 shares of the company's stock, valued at approximately $5,524,000.

Several other institutional investors have also added to or reduced their stakes in the business. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets in the 4th quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV raised its holdings in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after buying an additional 750 shares during the last quarter. Silicon Valley Capital Partners purchased a new position in shares of Robinhood Markets in the fourth quarter worth $37,000. Bogart Wealth LLC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $37,000. Finally, Spire Wealth Management grew its holdings in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after buying an additional 549 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Up 4.2 %

HOOD traded up $1.97 during trading on Friday, reaching $48.59. The company's stock had a trading volume of 59,084,034 shares, compared to its average volume of 25,744,391. The firm has a fifty day simple moving average of $43.08 and a two-hundred day simple moving average of $41.56. The company has a market cap of $43.02 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share 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 company had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same period last year, the firm posted $0.18 EPS. The business's quarterly revenue was up 50.0% on a year-over-year basis. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on HOOD shares. Needham & Company LLC lowered their price target on Robinhood Markets from $62.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their target price on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Raymond James assumed coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating on the stock. JMP Securities reiterated a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research report on Thursday. Finally, Wolfe Research cut shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus price target of $53.24.

Insider Activity

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the transaction, the chief technology officer now owns 17,559 shares of the company's stock, valued at $821,936.79. This represents a 25.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the sale, the insider now directly owns 706,642 shares of the company's stock, valued at $36,462,727.20. The trade was a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,334,593 shares of company stock valued at $114,815,021. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Company 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.