Jacobs Levy Equity Management Inc. Reduces Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Jacobs Levy Equity Management Inc. lessened its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,505,937 shares of the company's stock after selling 975,857 shares during the period. Jacobs Levy Equity Management Inc. owned 0.40% of Robinhood Markets worth $130,631,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of HOOD. FMR LLC lifted its position in Robinhood Markets by 184.8% during 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 bought a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $329,598,000. GQG Partners LLC purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $193,202,000 after purchasing an additional 3,994,745 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HOOD. Citigroup lowered their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $70.00 price target on shares of Robinhood Markets in a research report on Thursday, May 1st. Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. KeyCorp reduced their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Morgan Stanley upped their target price on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average price target of $55.24.

Robinhood Markets Trading Up 0.4%

HOOD traded up $0.27 during trading on Wednesday, hitting $62.84. 15,393,113 shares of the company traded hands, compared to its average volume of 26,249,052. The company has a market cap of $55.64 billion, a PE ratio of 40.00, a P/E/G ratio of 1.05 and a beta of 2.15. The stock's 50-day simple moving average is $43.92 and its two-hundred day simple moving average is $42.96. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results 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). The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 522,180 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares in the company, valued at $316,133.40. The trade was a 99.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company'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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,362,194 shares of company stock worth $116,234,743. Insiders own 14.47% of the company's stock.

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.