Centiva Capital LP Invests $2 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

Centiva Capital LP acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 53,707 shares of the company's stock, valued at approximately $2,001,000.

A number of other hedge funds have also recently bought and sold shares of HOOD. New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets in the fourth quarter worth $26,000. Creative Financial Designs Inc. ADV boosted its holdings in shares of Robinhood Markets by 750.0% in the 4th 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 bought a new position in Robinhood Markets during the fourth quarter valued at about $37,000. Bogart Wealth LLC purchased a new stake in Robinhood Markets during the fourth quarter worth about $37,000. Finally, Spire Wealth Management raised its position in Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after acquiring an additional 549 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Barclays lowered their target price on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Cantor Fitzgerald cut their price target on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Citigroup lowered their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, JMP Securities reiterated a "market outperform" rating and set a $70.00 target price on shares of Robinhood Markets in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $53.24.

Robinhood Markets Price Performance

NASDAQ HOOD traded up $0.58 during trading on Friday, reaching $54.65. The company's stock had a trading volume of 44,231,692 shares, compared to its average volume of 26,087,793. The firm has a fifty day moving average of $43.38 and a 200 day moving average of $42.39. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The stock has a market capitalization of $48.39 billion, a PE ratio of 34.81, a P/E/G ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $917.12 million. During the same quarter last year, the company posted $0.18 earnings per share. The firm's revenue for the quarter was up 50.0% on a year-over-year basis. Research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the transaction, the chief technology officer now owns 17,559 shares of the company's stock, valued at $821,936.79. The trade was a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,243,727 shares of company stock worth $109,688,747. 19.95% of the stock is currently owned by corporate insiders.

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.