Baker Avenue Asset Management LP Cuts Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Baker Avenue Asset Management LP reduced its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 456,908 shares of the company's stock after selling 7,398 shares during the quarter. Baker Avenue Asset Management LP owned 0.05% of Robinhood Markets worth $17,024,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HOOD. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $26,000. Creative Financial Designs Inc. ADV raised 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 buying an additional 750 shares during the period. Silicon Valley Capital Partners purchased a new position in shares of Robinhood Markets during the 4th quarter valued at about $37,000. Bogart Wealth LLC bought a new stake in Robinhood Markets during the 4th quarter worth approximately $37,000. Finally, Coppell Advisory Solutions LLC purchased a new position in Robinhood Markets during the fourth quarter valued at approximately $41,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

NASDAQ HOOD traded up $0.77 on Tuesday, hitting $48.82. The stock had a trading volume of 30,484,432 shares, compared to its average volume of 25,904,644. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The business's fifty day moving average price is $43.07 and its 200 day moving average price is $41.91. The stock has a market cap of $43.22 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (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 business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same period in the prior year, the company earned $0.18 earnings per share. The company's quarterly revenue was up 50.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered 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 note on Wednesday, March 12th. Morgan Stanley cut Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 target price for the company. in a research report on Tuesday, April 8th. Cantor Fitzgerald dropped their price target on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. Finally, Raymond James began coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a "market perform" rating on the stock. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $53.24.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 94,156 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $50.67, for a total transaction of $4,770,884.52. Following the completion of the transaction, the director now directly owns 7,863 shares of the company's stock, valued at approximately $398,418.21. This trade represents a 92.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on 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 quarter, insiders have sold 2,309,593 shares of company stock valued at $113,525,021. Insiders own 19.95% of the company's stock.

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.