Ieq Capital LLC Increases Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Ieq Capital LLC increased its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 219.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 469,973 shares of the company’s stock after purchasing an additional 322,971 shares during the period. Ieq Capital LLC’s holdings in Robinhood Markets were worth $17,511,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HOOD. Azora Capital LP purchased a new position in Robinhood Markets in the 3rd quarter worth approximately $79,780,000. FMR LLC raised its holdings in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after acquiring an additional 3,368,118 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Robinhood Markets by 486.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock valued at $103,906,000 after buying an additional 2,313,213 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in Robinhood Markets during the 4th quarter valued at $71,318,000. Finally, Geode Capital Management LLC raised its stake in Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after buying an additional 1,895,427 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $59.23 on Thursday. The company has a market capitalization of $52.36 billion, a P/E ratio of 37.73, a P/E/G ratio of 0.80 and a beta of 2.13. The company has a fifty day moving average of $46.85 and a 200 day moving average of $33.40. Robinhood Markets, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.96%. Analysts forecast that Robinhood Markets, Inc. will post 1.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays boosted their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Needham & Company LLC boosted their target price on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, KeyCorp boosted their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.53.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 186,514 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the sale, the director now owns 2,521 shares in the company, valued at $96,125.73. The trade was a 98.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the sale, the insider now owns 806,955 shares in the company, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,470,607 shares of company stock worth $197,745,930 in the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Company 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.