41,561 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Purchased by Lightspeed Management Company L.L.C.

Lightspeed Management Company L.L.C. acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,561 shares of the company's stock, valued at approximately $1,549,000. Robinhood Markets makes up approximately 0.4% of Lightspeed Management Company L.L.C.'s portfolio, making the stock its 8th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its position in Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after buying an additional 26,107,934 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Robinhood Markets by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after buying an additional 555,299 shares during the last quarter. Renaissance Technologies LLC grew its position in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after buying an additional 3,091,514 shares during the period. Norges Bank purchased a new stake in Robinhood Markets during the fourth quarter worth about $329,598,000. Finally, GQG Partners LLC purchased a new position in Robinhood Markets in the fourth quarter valued at about $302,325,000. Institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on HOOD shares. Raymond James assumed coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating on the stock. Citigroup reduced their target price 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. Cantor Fitzgerald dropped their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Barclays reduced their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Finally, Morgan Stanley raised their price target on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $55.41.

Insider Activity at Robinhood Markets

In related 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the sale, the chief technology officer now directly owns 17,559 shares in the company, valued at approximately $821,936.79. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,362,194 shares of company stock valued at $116,234,743 over the last 90 days. Corporate insiders own 14.47% of the company's stock.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock traded down $1.18 during midday trading on Wednesday, hitting $61.39. The company had a trading volume of 41,278,987 shares, compared to its average volume of 26,318,779. The stock has a market capitalization of $54.36 billion, a P/E ratio of 39.10, a P/E/G ratio of 1.05 and a beta of 2.15. The company has a 50 day moving average of $43.92 and a 200 day moving average of $42.96. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted 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 company had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business's quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 EPS. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.