Cynosure Group LLC Makes New $832,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cynosure Group LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,326 shares of the company's stock, valued at approximately $832,000.

A number of other hedge funds have also bought and sold shares of HOOD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Robinhood Markets by 8.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,178,669 shares of the company's stock worth $51,024,000 after acquiring an additional 177,395 shares in the last quarter. Captrust Financial Advisors lifted its stake in Robinhood Markets by 31.0% in the third quarter. Captrust Financial Advisors now owns 18,942 shares of the company's stock valued at $444,000 after buying an additional 4,487 shares during the period. Verition Fund Management LLC boosted its holdings in shares of Robinhood Markets by 34.2% during the 3rd quarter. Verition Fund Management LLC now owns 81,843 shares of the company's stock worth $1,917,000 after buying an additional 20,838 shares in the last quarter. Point72 Hong Kong Ltd grew its position in shares of Robinhood Markets by 68.0% during the 3rd quarter. Point72 Hong Kong Ltd now owns 10,852 shares of the company's stock worth $254,000 after buying an additional 4,392 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in shares of Robinhood Markets by 13,581.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 73,059 shares of the company's stock valued at $1,711,000 after acquiring an additional 72,525 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Down 9.8 %

NASDAQ HOOD traded down $3.75 during trading hours on Friday, reaching $34.51. 80,274,797 shares of the company were exchanged, compared to its average volume of 22,588,445. The stock has a market capitalization of $30.56 billion, a P/E ratio of 21.98, a P/E/G 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. The business's 50 day simple moving average is $48.15 and its 200-day simple moving average is $38.71.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 47,023 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $46.37, for a total transaction of $2,180,456.51. Following the completion of the transaction, the director now owns 5,042 shares in the company, valued at $233,797.54. This trade represents a 90.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. Insiders sold 2,627,010 shares of company stock valued at $131,897,049 over the last ninety days. 19.95% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HOOD shares. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a report on Thursday, March 27th. Cantor Fitzgerald started coverage on Robinhood Markets in a research report on Thursday, March 6th. They issued an "overweight" rating and a $69.00 target price for the company. Barclays increased their price target on Robinhood Markets from $54.00 to $76.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Needham & Company LLC lowered their target price on Robinhood Markets from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, Compass Point started coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.24.

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.