Alpine Global Management LLC Has $12.26 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Alpine Global Management LLC reduced its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 70.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 328,918 shares of the company’s stock after selling 800,584 shares during the period. Robinhood Markets accounts for approximately 2.6% of Alpine Global Management LLC’s portfolio, making the stock its 7th largest holding. Alpine Global Management LLC’s holdings in Robinhood Markets were worth $12,255,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Robinhood Markets during the fourth quarter worth $182,000. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in Robinhood Markets in the 4th quarter worth about $1,751,000. Castleark Management LLC purchased a new position in Robinhood Markets during the 4th quarter valued at about $839,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Robinhood Markets during the fourth quarter valued at about $287,000. Finally, Connective Capital Management LLC bought a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $545,000. Institutional investors own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 123,272 shares of Robinhood Markets stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the completion of the sale, the insider now directly owns 298,826 shares in the company, valued at approximately $16,674,490.80. This trade represents a 29.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the sale, the insider now directly owns 706,642 shares in the company, valued at $36,462,727.20. This trade represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,784,193 shares of company stock valued at $137,892,219 in the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Trading Down 3.2 %

Shares of NASDAQ HOOD opened at $39.85 on Tuesday. The firm has a fifty day simple moving average of $44.89 and a two-hundred day simple moving average of $40.41. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The firm has a market capitalization of $35.29 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (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 predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

HOOD has been the subject of a number of recent analyst reports. Mizuho boosted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. JMP Securities decreased their price target on shares of Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating on the stock in a report on Tuesday, April 8th. Raymond James assumed coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating on the stock. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Finally, Piper Sandler raised their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.06.

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.