Castleark Management LLC Buys New Shares in Robinhood Markets, Inc. (NASDAQ:HOOD)

Castleark Management LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,520 shares of the company's stock, valued at approximately $839,000.

A number of other large investors have also bought and sold shares of HOOD. FMR LLC boosted its position in shares of Robinhood Markets by 184.8% during the 4th 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 in the last quarter. Norges Bank acquired a new position in Robinhood Markets during the 4th quarter worth approximately $329,598,000. GQG Partners LLC bought a new position in Robinhood Markets in the fourth quarter worth approximately $302,325,000. Artisan Partners Limited Partnership bought a new position in Robinhood Markets in the fourth quarter worth approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after acquiring an additional 3,994,745 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Trading Down 1.6%

Shares of HOOD opened at $63.86 on Thursday. The stock has a 50 day moving average of $46.85 and a 200 day moving average of $44.35. The company has a market capitalization of $56.55 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 1.05 and a beta of 2.15. 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 announced 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 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 prior year, the business earned $0.18 earnings per share. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 107,608 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $60.41, for a total value of $6,500,599.28. Following the completion of the transaction, the director now owns 7,863 shares in the company, valued at approximately $475,003.83. The trade was a 93.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,897,622 shares of company stock worth $86,956,156. 14.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HOOD. Piper Sandler upped their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Mizuho boosted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Robinhood Markets from $54.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lifted their price objective 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 report on Wednesday, February 5th. They issued a "market perform" rating on the stock. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.41.

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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