Rivermont Capital Management LP Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Rivermont Capital Management LP acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, Holdings Channel.com reports. The firm acquired 353,000 shares of the company’s stock, valued at approximately $13,153,000. Robinhood Markets accounts for about 5.0% of Rivermont Capital Management LP’s holdings, making the stock its 9th biggest position.

A number of other large investors also recently added to or reduced their stakes in the business. New Wave Wealth Advisors LLC bought a new position in Robinhood Markets during the 4th quarter worth about $26,000. CoreCap Advisors LLC raised its holdings in shares of Robinhood Markets by 191.6% in the fourth 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 boosted its holdings in Robinhood Markets by 750.0% during the fourth 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 last quarter. Colonial Trust Co SC bought a new stake in Robinhood Markets during the 4th quarter worth about $34,000. Finally, Silicon Valley Capital Partners bought a new position in shares of Robinhood Markets in the 4th quarter valued at about $37,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $61.39 on Thursday. The stock has a market capitalization of $54.36 billion, a P/E ratio of 39.10, a PEG ratio of 1.05 and a beta of 2.15. The stock’s fifty day moving average is $44.26 and its 200 day moving average is $43.08. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Robinhood Markets’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 earnings per share. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. The trade was a 25.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s 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 disclosure for this sale can be found here. Insiders have sold 1,840,014 shares of company stock valued at $83,494,057 over the last ninety days. 14.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Morgan Stanley raised their target price on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an “equal weight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $54.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Finally, Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $55.41.

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.