Moore Capital Management LP Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Moore Capital Management LP bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 305,397 shares of the company's stock, valued at approximately $11,379,000.

A number of other institutional investors have also recently modified their holdings of HOOD. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the 4th quarter worth approximately $26,000. CoreCap Advisors LLC grew its stake 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 buying an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after buying an additional 750 shares during the period. Colonial Trust Co SC purchased a new position in Robinhood Markets in the 4th quarter valued at approximately $34,000. Finally, Silicon Valley Capital Partners acquired a new position in Robinhood Markets during the 4th quarter worth $37,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 $821,936.79. This represents a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 94,156 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $55.34, for a total value of $5,210,593.04. Following the sale, the director now directly owns 7,863 shares of the company's stock, valued at $435,138.42. This represents a 92.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,362,194 shares of company stock worth $116,234,743. 14.47% of the stock is currently owned by company insiders.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD traded up $5.14 during mid-day trading on Tuesday, reaching $62.57. 57,151,748 shares of the company traded hands, compared to its average volume of 26,287,130. The company's fifty day moving average is $43.92 and its two-hundred day moving average is $42.96. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The stock has a market cap of $55.40 billion, a PE ratio of 39.85, a price-to-earnings-growth 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 (EPS) 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%. Robinhood Markets's quarterly revenue was up 50.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on HOOD shares. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 27th. Cantor Fitzgerald dropped their price target on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. JMP Securities restated a "market outperform" rating and set a $70.00 target price on shares of Robinhood Markets in a research report on Thursday, May 1st. Finally, 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. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average target price of $53.41.

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.