Bridgefront Capital LLC Buys Shares of 10,689 Robinhood Markets, Inc. (NASDAQ:HOOD)

Bridgefront Capital LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,689 shares of the company's stock, valued at approximately $398,000.

Other large investors also recently bought and sold shares of the company. FMR LLC lifted its position 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 worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 buying an additional 555,299 shares in the last quarter. Renaissance Technologies LLC boosted 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 valued at $450,031,000 after buying an additional 3,091,514 shares during the period. Norges Bank bought a new position in Robinhood Markets in the 4th quarter worth about $329,598,000. Finally, GQG Partners LLC purchased a new position in shares of Robinhood Markets during the fourth quarter worth approximately $302,325,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Up 1.6 %

Shares of Robinhood Markets stock opened at $48.82 on Wednesday. The company has a 50 day moving average price of $43.07 and a 200 day moving average price of $41.96. The firm has a market capitalization of $43.22 billion, a P/E ratio of 31.09, a PEG ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HOOD shares. Compass Point initiated coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target for the company. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Cantor Fitzgerald decreased their price objective on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Barclays dropped their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Finally, Citigroup reduced their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $53.24.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $49.27, for a total value of $288,377.31. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 94,156 shares of the business's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $50.67, for a total value of $4,770,884.52. Following the completion of the transaction, the director now directly owns 7,863 shares of the company's stock, valued at approximately $398,418.21. This trade represents a 92.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,309,593 shares of company stock valued at $113,525,021 over the last quarter. 19.95% of the stock is currently 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.

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