Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. reduced its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 70.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 382,960 shares of the company's stock after selling 908,168 shares during the period. Alyeska Investment Group L.P.'s holdings in Robinhood Markets were worth $14,269,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets in the 4th quarter worth $26,000. Creative Financial Designs Inc. ADV lifted its stake in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after acquiring an additional 750 shares in the last quarter. Silicon Valley Capital Partners purchased a new position in Robinhood Markets in the fourth quarter valued at about $37,000. Bogart Wealth LLC acquired a new stake in Robinhood Markets during the 4th quarter valued at approximately $37,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in Robinhood Markets during the 4th quarter worth approximately $41,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 522,180 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the sale, the director now directly owns 5,042 shares of the company's stock, valued at $316,133.40. This represents a 99.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the sale, the insider now directly owns 706,642 shares of the company's stock, valued at $42,942,634.34. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,309,593 shares of company stock worth $113,525,021 in the last quarter. 19.95% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday. Piper Sandler boosted their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Raymond James started coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a "market perform" rating on the stock. Compass Point started coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective for the company. Finally, Cantor Fitzgerald reduced their target price on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.24.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $48.59 on Monday. The company has a market capitalization of $43.02 billion, a PE ratio of 30.95, a P/E/G ratio of 1.05 and a beta of 2.17. The company's fifty day moving average is $43.08 and its 200-day moving average is $41.76. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 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 earnings per share 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 quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. On average, analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.

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