Worldquant Millennium Advisors LLC Purchases 27,921 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Worldquant Millennium Advisors LLC increased its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 310,759 shares of the company's stock after purchasing an additional 27,921 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Robinhood Markets were worth $11,579,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new position in Robinhood Markets in the fourth quarter worth $26,000. CoreCap Advisors LLC lifted its position in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV lifted its position in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares during the period. Colonial Trust Co SC bought a new position in Robinhood Markets in the fourth quarter worth $34,000. Finally, Silicon Valley Capital Partners bought a new position in Robinhood Markets in the fourth quarter worth $37,000. 93.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of analyst reports. Compass Point initiated coverage on Robinhood Markets in a report on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective for the company. Raymond James initiated coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a "market perform" rating for the company. JMP Securities reissued a "market outperform" rating and set a $70.00 price objective on shares of Robinhood Markets in a report on Thursday, May 1st. Piper Sandler lifted their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, Cantor Fitzgerald cut their price objective on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.41.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the sale, the chief technology officer now directly owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 107,608 shares of Robinhood Markets stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $60.41, for a total value of $6,500,599.28. Following the completion of the sale, the director now owns 7,863 shares of the company's stock, valued at approximately $475,003.83. The trade was a 93.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,897,622 shares of company stock worth $86,956,156 over the last three months. 14.47% of the stock is currently owned by company insiders.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $63.86 on Thursday. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The firm has a market cap of $56.55 billion, a PE ratio of 40.68, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The business has a fifty day moving average of $46.85 and a 200-day moving average of $44.35.

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 analysts' consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business's quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. On average, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Robinhood Markets Company 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.

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