Snowden Capital Advisors LLC Acquires New Shares in Robinhood Markets, Inc. (NASDAQ:HOOD)

Snowden Capital Advisors LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 31,554 shares of the company's stock, valued at approximately $1,176,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. IFP Advisors Inc raised its stake in shares of Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after purchasing an additional 3,769 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock valued at $175,857,000 after buying an additional 138,267 shares during the period. Atomi Financial Group Inc. boosted its stake in Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock valued at $20,154,000 after buying an additional 92,613 shares during the period. Requisite Capital Management LLC bought a new stake in Robinhood Markets during the fourth quarter worth about $266,000. Finally, Aigen Investment Management LP grew its holdings in shares of Robinhood Markets by 161.2% during the 4th quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock valued at $3,199,000 after purchasing an additional 52,988 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

Shares of HOOD stock traded up $0.64 during trading hours on Tuesday, reaching $64.91. The company had a trading volume of 31,181,081 shares, compared to its average volume of 26,344,145. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The stock's fifty day simple moving average is $46.35 and its 200 day simple moving average is $44.22. The company has a market capitalization of $57.48 billion, a P/E ratio of 41.34, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its 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 net margin of 47.81% and a return on equity of 13.53%. The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same period in the previous year, the firm earned $0.18 EPS. The firm's revenue was up 50.0% on a year-over-year basis. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 123,272 shares of the business's stock in a transaction dated 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 $16,674,490.80. The trade was a 29.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,897,622 shares of company stock worth $86,956,156. 14.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HOOD has been the subject of several research analyst reports. Citigroup dropped their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Barclays cut their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Cantor Fitzgerald lowered their target price on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $54.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $60.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 27th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average price target of $55.41.

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.