Concentric Capital Strategies LP Acquires 11,769 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Concentric Capital Strategies LP raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 338,143 shares of the company's stock after acquiring an additional 11,769 shares during the period. Robinhood Markets makes up approximately 0.6% of Concentric Capital Strategies LP's holdings, making the stock its 29th biggest holding. Concentric Capital Strategies LP's holdings in Robinhood Markets were worth $12,599,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. MetLife Investment Management LLC lifted its stake in Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after buying an additional 171 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after acquiring an additional 233 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock worth $142,000 after buying an additional 277 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after acquiring an additional 549 shares during the period. Finally, CoreCap Advisors LLC increased its stake in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HOOD shares. Morgan Stanley downgraded Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 price objective on the stock. in a research report on Tuesday, April 8th. Cantor Fitzgerald decreased their target price 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 cut their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $70.00 price objective on shares of Robinhood Markets in a research note on Thursday, May 1st. Finally, Needham & Company LLC dropped their price objective on Robinhood Markets from $62.00 to $58.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $53.24.

Robinhood Markets Trading Up 1.6 %

Shares of NASDAQ:HOOD opened at $48.82 on Wednesday. The stock has a market capitalization of $43.22 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.05 and a beta of 2.15. The stock has a fifty day simple moving average of $43.07 and a two-hundred day simple moving average of $41.96. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, insider Steven M. Quirk sold 123,272 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the completion of the sale, the insider now owns 298,826 shares of the company's stock, valued at approximately $16,674,490.80. This trade represents a 29.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 90,866 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the sale, the director now owns 5,042 shares of the company's stock, valued at $279,024.28. This represents a 94.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,309,593 shares of company stock valued at $113,525,021 in the last ninety days. Corporate insiders own 19.95% of the company's stock.

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.

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