Quantessence Capital LLC Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Quantessence Capital LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 28,320 shares of the company's stock, valued at approximately $1,055,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. MetLife Investment Management LLC lifted its stake in Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after buying an additional 171 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after acquiring an additional 233 shares during the last quarter. First Horizon Advisors Inc. increased its position in Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock worth $142,000 after purchasing an additional 277 shares in the last quarter. Spire Wealth Management raised its stake in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after purchasing an additional 549 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in Robinhood Markets by 130.7% in the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company's stock valued at $42,000 after purchasing an additional 643 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Up 2.7 %

Shares of HOOD traded up $1.30 during trading on Friday, reaching $49.45. The company's stock had a trading volume of 34,530,486 shares, compared to its average volume of 24,869,118. The company has a market cap of $43.79 billion, a price-to-earnings ratio of 31.50, a P/E/G ratio of 1.05 and a beta of 2.17. The company has a fifty day moving average of $43.49 and a two-hundred day moving average of $40.79. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $47.82, for a total transaction of $280,990.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the sale, the insider now owns 706,642 shares of the company's stock, valued at approximately $36,462,727.20. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,240,460 shares of company stock valued at $110,036,750. Insiders own 19.95% of the company's stock.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of analyst reports. Cantor Fitzgerald began coverage on shares of Robinhood Markets in a research report on Thursday, March 6th. They issued an "overweight" rating and a $69.00 price objective for the company. Compass Point began coverage on Robinhood Markets in a research report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective for the company. Needham & Company LLC decreased their price target on Robinhood Markets from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Finally, JMP Securities cut their price target on shares of Robinhood Markets from $77.00 to $70.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Six equities research 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 currently has an average rating of "Moderate Buy" and an average price target of $53.88.

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.