Lighthouse Investment Partners LLC Invests $6.90 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

Lighthouse Investment Partners LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 185,112 shares of the company's stock, valued at approximately $6,897,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC boosted its position in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Norges Bank acquired a new position in Robinhood Markets during the 4th quarter valued at about $329,598,000. GQG Partners LLC acquired a new position in Robinhood Markets during the 4th quarter valued at about $302,325,000. Artisan Partners Limited Partnership acquired a new position in Robinhood Markets during the 4th quarter valued at about $152,949,000. Finally, Price T Rowe Associates Inc. MD boosted 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 worth $193,202,000 after purchasing an additional 3,994,745 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

HOOD has been the subject of a number of recent analyst reports. Compass Point initiated coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 target price for the company. Citigroup decreased their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $54.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday. Piper Sandler lifted their target price on shares of 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 target price on shares of 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 issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.41.

Insider Activity

In other news, CEO Vladimir Tenev sold 750,000 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven M. Quirk sold 123,272 shares of the 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,840,014 shares of company stock valued at $83,494,057. Company insiders own 14.47% of the company's stock.

Robinhood Markets Stock Down 1.2%

Shares of Robinhood Markets stock traded down $0.71 during trading hours on Thursday, reaching $60.68. 36,700,634 shares of the company's stock were exchanged, compared to its average volume of 26,360,301. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The company has a market capitalization of $53.73 billion, a P/E ratio of 38.65, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The business has a fifty day moving average of $44.26 and a two-hundred day moving average of $43.08.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. During the same period in the previous year, the firm posted $0.18 EPS. The company's revenue was up 50.0% compared to the same quarter last year. As a group, research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS 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.