Polar Capital Holdings Plc Acquires Shares of 3,361,555 Robinhood Markets, Inc. (NASDAQ:HOOD)

Polar Capital Holdings Plc purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,361,555 shares of the company's stock, valued at approximately $125,252,000. Polar Capital Holdings Plc owned approximately 0.38% of Robinhood Markets as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc raised its holdings in Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock valued at $164,000 after acquiring an additional 3,769 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock valued at $175,857,000 after acquiring an additional 138,267 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock valued at $20,154,000 after acquiring an additional 92,613 shares in the last quarter. Requisite Capital Management LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $266,000. Finally, Aigen Investment Management LP raised its holdings in Robinhood Markets by 161.2% in the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock valued at $3,199,000 after acquiring an additional 52,988 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Trading Up 1.8%

Shares of Robinhood Markets stock traded up $1.08 during trading on Friday, reaching $61.76. The company's stock had a trading volume of 23,851,695 shares, compared to its average volume of 26,397,656. The company has a 50-day moving average price of $45.27 and a two-hundred day moving average price of $43.54. The firm has a market cap of $54.69 billion, a PE ratio of 39.34, a P/E/G ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million during 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%. The business's revenue was up 50.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 earnings per share. On average, analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HOOD shares. Cantor Fitzgerald reduced their target price on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Mizuho raised their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $54.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday. Barclays reduced their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Finally, Piper Sandler increased their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.41.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 107,608 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $60.41, for a total value of $6,500,599.28. Following the transaction, the director now directly owns 7,863 shares of the company's stock, valued at approximately $475,003.83. The trade was a 93.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the transaction, the chief technology officer now directly owns 5,853 shares in the company, valued at $201,987.03. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,947,622 shares of company stock valued at $89,994,656 in the last ninety days. 14.47% of the stock is currently owned by company insiders.

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.