Tairen Capital Ltd Purchases 455,500 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Tairen Capital Ltd increased its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 267.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 625,500 shares of the company's stock after acquiring an additional 455,500 shares during the period. Robinhood Markets makes up 3.4% of Tairen Capital Ltd's portfolio, making the stock its 6th biggest position. Tairen Capital Ltd owned approximately 0.07% of Robinhood Markets worth $23,306,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Temasek Holdings Private Ltd acquired a new stake in shares of Robinhood Markets in the 4th quarter worth about $53,832,000. Teza Capital Management LLC acquired a new stake in shares of Robinhood Markets in the 4th quarter worth about $2,043,000. True Wealth Design LLC increased its holdings in shares of Robinhood Markets by 161.5% in the 4th quarter. True Wealth Design LLC now owns 3,313 shares of the company's stock worth $123,000 after acquiring an additional 2,046 shares during the period. Toronto Dominion Bank grew its position in Robinhood Markets by 156.4% in the 4th quarter. Toronto Dominion Bank now owns 175,408 shares of the company's stock valued at $6,536,000 after buying an additional 107,000 shares in the last quarter. Finally, Snowden Capital Advisors LLC bought a new position in Robinhood Markets in the 4th quarter valued at about $1,176,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $61.76 on Friday. The firm's 50 day simple moving average is $45.27 and its 200-day simple moving average is $43.65. The company has a market cap of $54.69 billion, a P/E ratio of 39.34, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HOOD shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $54.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday. The Goldman Sachs Group increased their target price on shares of Robinhood Markets from $56.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday. Piper Sandler increased their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Mizuho increased their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $55.41.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm's stock in a transaction that occurred on 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 approximately $42,942,634.34. This trade represents a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares of the company's stock, valued at approximately $821,936.79. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,947,622 shares of company stock valued at $89,994,656 over the last ninety days. Corporate insiders own 14.47% 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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