Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC lowered its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 22.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,981,912 shares of the company's stock after selling 1,129,081 shares during the quarter. Robinhood Markets makes up about 0.5% of Voloridge Investment Management LLC's holdings, making the stock its 27th biggest position. Voloridge Investment Management LLC owned 0.45% of Robinhood Markets worth $148,366,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares during the period. Norges Bank acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $329,598,000. GQG Partners LLC acquired a new position in Robinhood Markets in the 4th quarter valued at $302,325,000. Artisan Partners Limited Partnership acquired a new position in Robinhood Markets in the 4th quarter valued at $152,949,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after buying an additional 3,994,745 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 123,272 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the sale, the insider now directly owns 298,826 shares in the company, valued at $16,674,490.80. This represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,897,622 shares of company stock worth $86,956,156 in the last three months. Corporate insiders own 14.47% of the company's stock.

Analyst Ratings Changes

HOOD has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Piper Sandler boosted their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Mizuho boosted their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. The Goldman Sachs Group boosted their price objective on shares of Robinhood Markets from $56.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Barclays dropped their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $55.41.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD traded down $1.05 during trading on Wednesday, hitting $63.86. 40,008,911 shares of the company were exchanged, compared to its average volume of 26,421,205. The company has a market cap of $56.55 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The firm's fifty day moving average price is $46.85 and its 200 day moving average price is $44.35.

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