Jasper Ridge Partners L.P. Decreases Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Jasper Ridge Partners L.P. decreased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 32.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of HOOD. MetLife Investment Management LLC raised its stake in shares of Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after purchasing an additional 171 shares during the period. Dorsey & Whitney Trust CO LLC grew its position in Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after acquiring an additional 233 shares during the last quarter. First Horizon Advisors Inc. raised its position in Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock worth $142,000 after purchasing an additional 277 shares during the period. Spire Wealth Management lifted its position in Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after purchasing an additional 549 shares during the last quarter. Finally, CoreCap Advisors LLC increased its position in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Performance

HOOD traded up $3.56 on Tuesday, hitting $60.99. The company had a trading volume of 15,292,147 shares, compared to its average volume of 26,124,606. The stock has a market capitalization of $54.00 billion, a price-to-earnings ratio of 38.99, a P/E/G ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The stock has a fifty day moving average price of $43.57 and a 200-day moving average price of $42.82.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The firm had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same period in the prior year, the firm posted $0.18 EPS. The business's revenue was up 50.0% compared to the same quarter last year. Analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 522,180 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. This represents a 99.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets 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. Insiders have sold 2,243,727 shares of company stock worth $109,688,747 over the last 90 days. 14.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HOOD shares. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Morgan Stanley downgraded shares of Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 price target on the stock. in a report on Tuesday, April 8th. Piper Sandler upped their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Finally, Cantor Fitzgerald decreased their target price on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $53.24.

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.