Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Purchased by ARK Investment Management LLC

ARK Investment Management LLC boosted its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,936,204 shares of the company’s stock after purchasing an additional 2,101,325 shares during the period. Robinhood Markets comprises approximately 2.6% of ARK Investment Management LLC’s holdings, making the stock its 14th largest position. ARK Investment Management LLC owned about 4.04% of Robinhood Markets worth $445,087,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd purchased a new position in Robinhood Markets in the first quarter valued at about $28,000. Peoples Bank KS purchased a new position in Robinhood Markets in the third quarter valued at about $29,000. UniSuper Management Pty Ltd purchased a new position in Robinhood Markets during the third quarter worth $30,000. Quantbot Technologies LP purchased a new position in Robinhood Markets during the second quarter worth $28,000. Finally, Partners Capital Investment Group LLP purchased a new position in Robinhood Markets during the first quarter worth $34,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In other news, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $12.43, for a total value of $62,150.00. Following the sale, the chief financial officer now owns 921,267 shares in the company, valued at $11,451,348.81. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $12.43, for a total transaction of $62,150.00. Following the sale, the chief financial officer now owns 921,267 shares in the company, valued at $11,451,348.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Baiju Bhatt sold 222,877 shares of Robinhood Markets stock in a transaction on Monday, January 8th. The stock was sold at an average price of $12.28, for a total transaction of $2,736,929.56. Following the sale, the insider now owns 3,497 shares in the company, valued at approximately $42,943.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,435,027 shares of company stock worth $34,531,948. Insiders own 20.81% of the company’s stock.

Robinhood Markets Price Performance

HOOD opened at $20.01 on Thursday. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $20.55. The stock has a fifty day moving average price of $14.40 and a 200 day moving average price of $11.70.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.19) earnings per share. Research analysts expect that Robinhood Markets, Inc. will post 0.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HOOD. JMP Securities lifted their price objective on Robinhood Markets from $23.00 to $25.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 14th. Sanford C. Bernstein began coverage on Robinhood Markets in a research report on Thursday, March 14th. They issued an “outperform” rating and a $30.00 price objective for the company. TheStreet raised Robinhood Markets from a “d+” rating to a “c-” rating in a research report on Wednesday, February 28th. Mizuho lifted their price objective on Robinhood Markets from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, KeyCorp lifted their target price on Robinhood Markets from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of “Hold” and an average target price of $15.46.

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.