Polar Capital Holdings Plc Invests $125.25 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

Polar Capital Holdings Plc acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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.

A number of other hedge funds also recently added to or reduced their stakes in HOOD. Quantinno Capital Management LP lifted its stake in Robinhood Markets by 64.5% during the fourth quarter. Quantinno Capital Management LP now owns 62,293 shares of the company's stock worth $2,321,000 after purchasing an additional 24,426 shares during the last quarter. Nia Impact Advisors LLC acquired a new stake in Robinhood Markets during the 4th quarter worth approximately $4,411,000. Newlands Management Operations LLC raised its stake in shares of 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 purchasing an additional 273,860 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its stake in shares of Robinhood Markets by 26.0% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 17,647 shares of the company's stock valued at $658,000 after buying an additional 3,640 shares in the last quarter. Finally, Napa Wealth Management acquired a new stake in Robinhood Markets in the fourth quarter valued at $986,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Cantor Fitzgerald cut their target price on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. JMP Securities restated a "market outperform" rating and issued a $70.00 target price on shares of Robinhood Markets in a report on Thursday, May 1st. Compass Point started coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective for the company. Finally, Barclays reduced their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $55.41.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 107,608 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $60.41, for a total value of $6,500,599.28. Following the completion of the sale, the director now owns 7,863 shares in the company, valued at approximately $475,003.83. This trade represents a 93.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,947,622 shares of company stock worth $89,994,656. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets Price Performance

NASDAQ HOOD traded up $1.32 on Monday, reaching $63.08. The company had a trading volume of 18,781,961 shares, compared to its average volume of 26,263,119. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The firm has a market capitalization of $55.86 billion, a PE ratio of 40.14, a P/E/G ratio of 1.05 and a beta of 2.15. The firm has a 50-day moving average of $45.27 and a 200-day moving average of $43.79.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same period last year, the company posted $0.18 earnings per share. The firm's revenue for the quarter was up 50.0% compared to the same quarter last year. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.