Stevens Capital Management LP Acquires Shares of 6,290 Robinhood Markets, Inc. (NASDAQ:HOOD)

Stevens Capital Management LP bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,290 shares of the company’s stock, valued at approximately $234,000.

A number of other hedge funds have also recently modified their holdings of HOOD. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets in the fourth quarter worth about $26,000. Creative Financial Designs Inc. ADV raised its holdings in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the period. Silicon Valley Capital Partners purchased a new position in Robinhood Markets during the fourth quarter worth approximately $37,000. Bogart Wealth LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $37,000. Finally, Spire Wealth Management increased its position in shares of Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after buying an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 228,645 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65. Following the completion of the transaction, the director now owns 5,042 shares in the company, valued at approximately $203,545.54. This trade represents a 97.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,685,104 shares of company stock worth $131,233,346. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Stock Performance

HOOD opened at $48.36 on Tuesday. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The company’s 50 day simple moving average is $49.22 and its 200 day simple moving average is $37.61. The stock has a market capitalization of $42.82 billion, a PE ratio of 30.80, a P/E/G ratio of 1.05 and a beta of 2.14.

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

Wall Street Analysts Forecast Growth

HOOD has been the subject of several research analyst reports. Piper Sandler upped their price target 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. Compass Point began coverage on Robinhood Markets in a report on Wednesday, March 19th. They set a “buy” rating and a $61.00 target price for the company. Mizuho lifted their price target on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Citigroup increased their price objective on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

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.