Point72 Hong Kong Ltd Increases Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Point72 Hong Kong Ltd grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 370.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,031 shares of the company's stock after buying an additional 40,179 shares during the quarter. Point72 Hong Kong Ltd's holdings in Robinhood Markets were worth $1,901,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. FMR LLC lifted its holdings in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the period. Newlands Management Operations LLC lifted its holdings in Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after buying an additional 273,860 shares during the period. Geode Capital Management LLC lifted its holdings in Robinhood Markets by 4.8% during the fourth 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 period. Renaissance Technologies LLC lifted its holdings in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after buying an additional 3,091,514 shares during the period. Finally, Norges Bank purchased a new stake in Robinhood Markets during the fourth quarter worth $329,598,000. Institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Wolfe Research lowered Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Compass Point initiated coverage on Robinhood Markets in a report on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective for the company. Finally, Piper Sandler raised their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.41.

Robinhood Markets Price Performance

Robinhood Markets stock traded up $1.08 during midday trading on Friday, reaching $61.76. The company had a trading volume of 23,851,695 shares, compared to its average volume of 26,289,986. The company has a market capitalization of $54.69 billion, a P/E ratio of 39.34, 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 firm's fifty day simple moving average is $45.27 and its 200-day simple moving average is $43.65.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share 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 business had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same period last year, the business earned $0.18 earnings per share. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. On average, analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the sale, the insider now owns 706,642 shares in the company, valued at approximately $42,942,634.34. This trade represents a 6.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,947,622 shares of company stock valued at $89,994,656. 14.47% of the stock is currently owned by company insiders.

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.