Tidal Investments LLC Cuts Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Tidal Investments LLC lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 14.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,143,404 shares of the company's stock after selling 195,377 shares during the period. Tidal Investments LLC owned about 0.13% of Robinhood Markets worth $42,603,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets in the 4th quarter valued at $26,000. CoreCap Advisors LLC grew its holdings in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after purchasing an additional 750 shares in the last quarter. Colonial Trust Co SC acquired a new stake in Robinhood Markets during the 4th quarter valued at $34,000. Finally, Silicon Valley Capital Partners acquired a new stake in Robinhood Markets during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Raymond James assumed coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a "market perform" rating for the company. Cantor Fitzgerald lowered their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Needham & Company LLC raised their price target on shares of Robinhood Markets from $58.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday. Mizuho raised their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. 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 a consensus target price of $55.41.

Insider Activity

In other news, Director Baiju Bhatt sold 107,608 shares of Robinhood Markets stock in a transaction dated 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 directly owns 7,863 shares of the company's stock, valued at approximately $475,003.83. The trade was a 93.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 owns 706,642 shares in the company, valued at approximately $42,942,634.34. This represents a 6.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,947,622 shares of company stock valued at $89,994,656. Company insiders own 14.47% of the company's stock.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $61.76 on Friday. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The firm has a fifty day moving average of $45.27 and a two-hundred day moving average of $43.65. The firm has a market cap of $54.69 billion, a P/E ratio of 39.34, a P/E/G ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS 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 during the quarter, compared to analyst estimates of $917.12 million. During the same period last year, the firm posted $0.18 earnings per share. The company's quarterly revenue was up 50.0% on a year-over-year basis. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.