Voloridge Investment Management LLC Has $148.37 Million Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Voloridge Investment Management LLC trimmed its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 22.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,981,912 shares of the company’s stock after selling 1,129,081 shares during the period. Robinhood Markets makes up approximately 0.5% of Voloridge Investment Management LLC’s holdings, making the stock its 27th biggest holding. Voloridge Investment Management LLC owned 0.45% of Robinhood Markets worth $148,366,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HOOD. FMR LLC grew its stake in shares of Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after buying an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC grew its stake in shares of Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after buying an additional 273,860 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock valued at $455,464,000 after buying an additional 555,299 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after buying an additional 3,091,514 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Robinhood Markets by 0.5% in the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company’s stock valued at $398,667,000 after buying an additional 52,700 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 4.1%

Shares of NASDAQ HOOD opened at $64.27 on Tuesday. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The business has a 50-day simple moving average of $45.78 and a two-hundred day simple moving average of $44.07. The company has a market cap of $56.91 billion, a P/E ratio of 40.94, a P/E/G ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million for 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%. The business’s revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 107,608 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $60.41, for a total transaction of $6,500,599.28. Following the transaction, the director now directly owns 7,863 shares of the company’s stock, valued at approximately $475,003.83. The trade was a 93.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 123,272 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $55.80, for a total value of $6,878,577.60. Following the transaction, the insider now directly owns 298,826 shares in the company, valued at $16,674,490.80. This trade represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,897,622 shares of company stock valued at $86,956,156 in the last ninety days. Company insiders own 14.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on HOOD. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Compass Point began coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price objective for the company. Piper Sandler lifted their price objective 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. JMP Securities reaffirmed a “market outperform” rating and set a $70.00 price objective on shares of Robinhood Markets in a research report on Thursday, May 1st. Finally, Needham & Company LLC lifted their price objective on shares of Robinhood Markets from $58.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.41.

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.