Jasper Ridge Partners L.P. Has $4.57 Million Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Jasper Ridge Partners L.P. lessened its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 32.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 122,631 shares of the company's stock after selling 57,625 shares during the quarter. Jasper Ridge Partners L.P.'s holdings in Robinhood Markets were worth $4,569,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of HOOD. Franklin Resources Inc. purchased a new stake in Robinhood Markets in the 3rd quarter worth approximately $6,321,000. Wedmont Private Capital bought a new position in shares of Robinhood Markets in the fourth quarter worth approximately $386,000. Friedenthal Financial bought a new stake in shares of Robinhood Markets in the 4th quarter worth about $764,000. Pallas Capital Advisors LLC raised its position in Robinhood Markets by 51.3% in the 4th quarter. Pallas Capital Advisors LLC now owns 31,657 shares of the company's stock worth $1,180,000 after purchasing an additional 10,727 shares during the period. Finally, AdvisorNet Financial Inc increased its holdings in Robinhood Markets by 34.6% during the fourth quarter. AdvisorNet Financial Inc now owns 3,372 shares of the company's stock valued at $126,000 after buying an additional 867 shares during the period. Institutional investors own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the transaction, the chief technology officer now owns 17,559 shares of the company's stock, valued at $821,936.79. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,840,014 shares of company stock worth $83,494,057. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Trading Down 5.6%

HOOD stock traded down $3.45 during trading on Thursday, hitting $57.94. 6,485,973 shares of the stock traded hands, compared to its average volume of 26,252,760. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The company has a 50 day simple moving average of $44.26 and a 200 day simple moving average of $43.08. The stock has a market cap of $51.30 billion, a price-to-earnings ratio of 37.40, 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 data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million for 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 in the prior year, the company earned $0.18 EPS. As a group, analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on HOOD. Piper Sandler increased their price target 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. Wolfe Research cut shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. The Goldman Sachs Group raised their price target on shares of Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Finally, Needham & Company LLC upped their price target on Robinhood Markets from $58.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $55.41.

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.