Man Group plc Decreases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Man Group plc trimmed its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 21.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,379,237 shares of the company's stock after selling 382,027 shares during the period. Man Group plc owned 0.16% of Robinhood Markets worth $51,390,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HOOD. Nia Impact Advisors LLC bought a new stake in shares of Robinhood Markets in the 4th quarter worth about $4,411,000. Newlands Management Operations LLC raised its holdings in shares of Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after purchasing an additional 273,860 shares in the last quarter. OMERS ADMINISTRATION Corp grew its position in shares of Robinhood Markets by 26.0% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 17,647 shares of the company's stock worth $658,000 after buying an additional 3,640 shares during the last quarter. Napa Wealth Management purchased a new position in shares of Robinhood Markets in the 4th quarter worth approximately $986,000. Finally, Moore Capital Management LP purchased a new position in shares of Robinhood Markets in the 4th quarter worth approximately $11,379,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven M. Quirk sold 123,272 shares of Robinhood Markets stock in a transaction on Friday, February 21st. The shares were sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the completion of the transaction, the insider now owns 298,826 shares in the company, valued at approximately $16,674,490.80. This trade represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,947,622 shares of company stock valued at $89,994,656. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets Stock Up 1.8%

HOOD stock traded up $1.08 during mid-day trading on Friday, hitting $61.76. 23,851,695 shares of the company were exchanged, compared to its average volume of 26,397,656. The business has a fifty day simple moving average of $45.27 and a 200-day simple moving average of $43.54. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The firm has a market capitalization of $54.69 billion, a P/E ratio of 39.34, a PEG 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 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. Research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several research analyst reports. Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Raymond James began coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating for the company. Compass Point began coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective for the company. Piper Sandler upped their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $70.00 target price on shares of Robinhood Markets in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average target price of $55.41.

About Robinhood Markets

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.