Levin Capital Strategies L.P. Buys Shares of 6,524 Robinhood Markets, Inc. (NASDAQ:HOOD)

Levin Capital Strategies L.P. bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,524 shares of the company's stock, valued at approximately $272,000.

A number of other large investors also recently bought and sold shares of the stock. FMR LLC lifted its position in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after buying an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC lifted its position in shares of Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after purchasing an additional 273,860 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after purchasing an additional 3,091,514 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Robinhood Markets by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock worth $398,667,000 after purchasing an additional 52,700 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Robinhood Markets by 231.9% during the fourth quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock worth $195,907,000 after purchasing an additional 3,673,861 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Activity

In related news, insider Steven M. Quirk sold 92,257 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total transaction of $7,838,154.72. Following the completion of the sale, the insider directly owned 136,364 shares of the company's stock, valued at $11,585,485.44. This trade represents a 40.35% 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, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $101.88, for a total value of $42,620,275.44. Following the sale, the director directly owned 10,518 shares of the company's stock, valued at approximately $1,071,573.84. This represents a 97.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,001,690 shares of company stock valued at $255,967,852. 19.95% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. JMP Securities increased their price target on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Needham & Company LLC increased their price target on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Cantor Fitzgerald increased their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, KeyCorp increased their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus price target of $96.29.

Robinhood Markets Trading Up 6.5%

HOOD stock opened at $106.37 on Tuesday. The company has a market capitalization of $94.19 billion, a P/E ratio of 54.00, a PEG ratio of 4.59 and a beta of 2.36. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $113.44. The business has a 50 day simple moving average of $87.78 and a 200-day simple moving average of $62.52.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. The business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same period in the prior year, the company earned $0.21 earnings per share. The company's revenue was up 45.0% compared to the same quarter last year. Research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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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