Jasper Ridge Partners L.P. Trims Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Jasper Ridge Partners L.P. reduced its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 32.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 122,631 shares of the company’s stock after selling 57,625 shares during the period. Jasper Ridge Partners L.P.’s holdings in Robinhood Markets were worth $4,569,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the fourth quarter worth about $26,000. CoreCap Advisors LLC grew its stake in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings 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 valued at $32,000 after purchasing an additional 750 shares during the period. Colonial Trust Co SC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth approximately $34,000. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $37,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 522,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s 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. Insiders have sold 2,243,727 shares of company stock worth $109,688,747 over the last quarter. 14.47% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on HOOD. KeyCorp dropped their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a report 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 on the stock. in a research report on Tuesday, April 8th. Needham & Company LLC dropped their price objective on Robinhood Markets from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, Barclays cut their price objective on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.24.

Robinhood Markets Stock Performance

HOOD stock opened at $54.65 on Friday. The firm has a market cap of $48.39 billion, a P/E ratio of 34.81, a PEG ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The stock’s 50 day moving average price is $43.38 and its 200 day moving average price is $42.50.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data 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). The firm had revenue of $927.00 million for the quarter, compared to analysts’ expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business’s quarterly revenue was up 50.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share 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.