Schonfeld Strategic Advisors LLC Reduces Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Schonfeld Strategic Advisors LLC trimmed its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 36.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 354,945 shares of the company's stock after selling 202,781 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Robinhood Markets were worth $13,225,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

HOOD has been the topic of several analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $70.00 price objective on shares of Robinhood Markets in a report on Thursday. Barclays decreased their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Morgan Stanley cut shares of Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 price target for the company. in a research report on Tuesday, April 8th. Cantor Fitzgerald decreased their price objective on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Needham & Company LLC dropped their target price on shares of Robinhood Markets from $62.00 to $58.00 and set a "buy" rating for the company in a report on Thursday. 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 currently has a consensus rating of "Moderate Buy" and an average target price of $53.24.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the sale, the chief technology officer now directly owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,334,593 shares of company stock worth $114,815,021 in the last 90 days. Insiders own 19.95% of the company's stock.

Robinhood Markets Stock Up 4.2 %

Shares of NASDAQ:HOOD traded up $1.97 during midday trading on Friday, reaching $48.59. The company's stock had a trading volume of 59,084,034 shares, compared to its average volume of 25,744,384. The firm has a 50 day moving average of $43.08 and a 200-day moving average of $41.56. The firm has a market capitalization of $43.02 billion, a P/E ratio of 30.95, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.53% and a net margin of 47.81%. The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same period in the previous year, the firm earned $0.18 EPS. The company's revenue was up 50.0% on a year-over-year basis. On average, research analysts predict 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.