Driehaus Capital Management LLC Grows Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Driehaus Capital Management LLC grew its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 869,268 shares of the company's stock after buying an additional 92,429 shares during the quarter. Driehaus Capital Management LLC owned 0.10% of Robinhood Markets worth $32,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Colonial Trust Co SC acquired a new stake in Robinhood Markets in the fourth quarter valued at $34,000. Concentric Capital Strategies LP increased its position in Robinhood Markets by 3.6% in the fourth quarter. Concentric Capital Strategies LP now owns 338,143 shares of the company's stock worth $12,599,000 after buying an additional 11,769 shares during the period. CoreCap Advisors LLC raised its position in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after buying an additional 550 shares in the last quarter. Castle Hook Partners LP bought a new stake in Robinhood Markets during the fourth quarter worth approximately $96,654,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Robinhood Markets by 183.8% during the fourth quarter. Cetera Investment Advisers now owns 103,551 shares of the company's stock worth $3,858,000 after purchasing an additional 67,061 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HOOD shares. Compass Point began coverage on Robinhood Markets in a research note on Wednesday, March 19th. They set a "buy" rating and a $61.00 price target on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. JMP Securities restated a "market outperform" rating and set a $70.00 target price on shares of Robinhood Markets in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Finally, Raymond James initiated coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a "market perform" rating on the stock. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $53.24.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $54.07 on Friday. The stock has a market capitalization of $47.88 billion, a P/E ratio of 34.44, a PEG ratio of 1.05 and a beta of 2.15. The business has a 50 day simple moving average of $43.21 and a two-hundred day simple moving average of $42.20. 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 data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total transaction 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. The trade was a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven M. Quirk sold 123,272 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the transaction, the insider now directly owns 298,826 shares of the company's stock, valued at approximately $16,674,490.80. This represents a 29.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,243,727 shares of company stock worth $109,688,747 in the last three months. 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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