Castle Hook Partners LP Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Castle Hook Partners LP bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,594,034 shares of the company's stock, valued at approximately $96,654,000. Robinhood Markets accounts for 1.2% of Castle Hook Partners LP's portfolio, making the stock its 20th biggest position. Castle Hook Partners LP owned 0.29% of Robinhood Markets at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets in the fourth quarter valued at $26,000. Creative Financial Designs Inc. ADV boosted its stake 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 valued at $32,000 after buying an additional 750 shares during the period. Silicon Valley Capital Partners acquired a new position in shares of Robinhood Markets during the fourth quarter worth about $37,000. Bogart Wealth LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth approximately $37,000. Finally, Spire Wealth Management increased its stake 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 worth $40,000 after buying an additional 549 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the transaction, the director now directly owns 5,042 shares of the company's stock, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the sale, the insider now directly owns 706,642 shares in the company, valued at $42,942,634.34. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,243,727 shares of company stock worth $109,688,747. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Trading Up 1.1 %

Shares of Robinhood Markets stock traded up $0.58 on Friday, reaching $54.65. 44,231,692 shares of the stock were exchanged, compared to its average volume of 26,187,546. The firm has a market capitalization of $48.39 billion, a PE ratio of 34.81, a PEG ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The business has a fifty day moving average price of $43.21 and a two-hundred day moving average price of $42.20.

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 the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business's revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. Research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

HOOD has been the subject of several analyst reports. Wolfe Research cut shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Citigroup cut their price target 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. JMP Securities reaffirmed a "market outperform" rating and set a $70.00 price objective on shares of Robinhood Markets in a research report on Thursday, May 1st. Raymond James initiated coverage on Robinhood Markets in a research note on Wednesday, February 5th. They set a "market perform" rating for the company. Finally, Needham & Company LLC cut their price objective on shares of Robinhood Markets from $62.00 to $58.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $53.24.

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.