Blueshift Asset Management LLC Decreases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Blueshift Asset Management LLC cut its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 59.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,409 shares of the company’s stock after selling 86,532 shares during the period. Robinhood Markets comprises approximately 0.8% of Blueshift Asset Management LLC’s investment portfolio, making the stock its 16th biggest holding. Blueshift Asset Management LLC’s holdings in Robinhood Markets were worth $2,176,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HOOD. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets during the 4th quarter worth approximately $26,000. Creative Financial Designs Inc. ADV boosted its stake in Robinhood Markets by 750.0% during the 4th 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. Silicon Valley Capital Partners purchased a new stake in shares of Robinhood Markets during the fourth quarter worth $37,000. Bogart Wealth LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $37,000. Finally, Spire Wealth Management lifted its stake in shares of Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after buying an additional 549 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 6.7 %

NASDAQ HOOD opened at $42.80 on Thursday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The business’s 50-day moving average price is $48.90 and its 200 day moving average price is $36.94. The firm has a market cap of $37.90 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly 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 return on equity of 13.53% and a net margin of 47.81%. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler upped their price objective 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 upped their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a research note on Thursday, March 6th. They set an “overweight” rating and a $69.00 target price on the stock. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Finally, Citigroup lifted their price target on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Insider Activity at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the transaction, the chief technology officer now directly owns 17,559 shares of the company’s stock, valued at $821,936.79. The trade was a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. This represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,985,127 shares of company stock worth $142,455,378 over the last 90 days. Company insiders own 19.95% of the company’s stock.

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.