Tybourne Capital Management HK Ltd. Invests $2.86 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

Tybourne Capital Management HK Ltd. bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 76,793 shares of the company's stock, valued at approximately $2,861,000. Robinhood Markets accounts for 0.7% of Tybourne Capital Management HK Ltd.'s investment portfolio, making the stock its 27th biggest position.

Other hedge funds have also bought and sold shares of the company. FMR LLC lifted its position in shares of Robinhood Markets by 184.8% during 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 raised its holdings 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 during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Robinhood Markets by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after buying an additional 555,299 shares during the period. Renaissance Technologies LLC boosted its position in Robinhood Markets by 34.4% in the 4th 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. Finally, Norges Bank acquired a new stake in Robinhood Markets during the fourth quarter valued at $329,598,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Down 2.2%

NASDAQ:HOOD traded down $1.44 during mid-day trading on Friday, reaching $63.34. 15,544,746 shares of the stock were exchanged, compared to its average volume of 26,406,951. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The business has a fifty day moving average price of $47.30 and a 200 day moving average price of $44.63. The firm has a market capitalization of $56.08 billion, a PE ratio of 40.14, a PEG ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data 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). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The company had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same quarter in the previous year, the firm posted $0.18 EPS. Robinhood Markets's quarterly revenue was up 50.0% on a year-over-year basis. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays reduced their price objective 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. Morgan Stanley lifted their price target on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Piper Sandler increased their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Mizuho raised their price target on Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, Citigroup cut their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.41.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the transaction, the insider now owns 822,893 shares in the company, valued at approximately $40,338,214.86. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was 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. In the last quarter, insiders have sold 2,192,688 shares of company stock worth $107,043,646. 14.47% of the stock is currently owned by company insiders.

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.