AQR Capital Management LLC Raises Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

AQR Capital Management LLC grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 231.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,257,840 shares of the company’s stock after buying an additional 3,673,861 shares during the period. AQR Capital Management LLC’s holdings in Robinhood Markets were worth $195,907,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter worth $26,000. Creative Financial Designs Inc. ADV increased its stake in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares during the period. Silicon Valley Capital Partners acquired a new stake in shares of Robinhood Markets in the fourth quarter worth $37,000. Bogart Wealth LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter worth $37,000. Finally, Spire Wealth Management boosted its holdings in Robinhood Markets by 104.6% during 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 hedge funds and other institutional investors.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $48.93 on Tuesday. The stock has a market capitalization of $43.33 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The stock has a fifty day moving average price of $43.28 and a two-hundred day moving average price of $41.16.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS 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%. On average, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analysts Set New Price Targets

HOOD has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating for the company. Needham & Company LLC cut their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a report on Friday, March 28th. Mizuho increased their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Compass Point assumed coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price target on the stock. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.88.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the sale, the chief technology officer now directly owns 17,559 shares of the company’s stock, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction dated 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 sale, the director now owns 5,042 shares of the company’s stock, valued at $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,234,584 shares of company stock valued at $109,755,759. Insiders own 19.95% of the company’s stock.

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.