Tower Research Capital LLC TRC Boosts Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Tower Research Capital LLC TRC boosted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 218.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,141 shares of the company's stock after buying an additional 19,294 shares during the period. Tower Research Capital LLC TRC's holdings in Robinhood Markets were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC lifted its position in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares during the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets during the fourth quarter worth $329,598,000. GQG Partners LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at $302,325,000. Artisan Partners Limited Partnership acquired a new stake in shares of Robinhood Markets in the 4th quarter worth $152,949,000. Finally, Renaissance Technologies LLC grew its stake in Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after buying an additional 3,091,514 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Buying and Selling

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the transaction, the chief technology officer now owns 5,853 shares in the company, valued at $201,987.03. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 90,866 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the completion of the sale, the director now directly owns 5,042 shares of the company's stock, valued at approximately $279,024.28. The trade was a 94.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,234,584 shares of company stock valued at $109,755,759. Corporate insiders own 19.95% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on HOOD. Deutsche Bank Aktiengesellschaft decreased their price target on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. KeyCorp decreased their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Citigroup decreased their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, Raymond James assumed coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set 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. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average price target of $53.88.

Robinhood Markets Stock Up 0.1 %

Shares of HOOD traded up $0.05 during mid-day trading on Tuesday, reaching $48.98. The company had a trading volume of 11,679,540 shares, compared to its average volume of 24,926,663. The stock has a market capitalization of $43.37 billion, a P/E ratio of 31.09, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The stock has a 50 day moving average of $43.28 and a two-hundred day moving average of $41.16.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.