Jacobs Levy Equity Management Inc. Sells 975,857 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Jacobs Levy Equity Management Inc. trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 21.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,505,937 shares of the company’s stock after selling 975,857 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.40% of Robinhood Markets worth $130,631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of HOOD. New Wave Wealth Advisors LLC bought a new stake in Robinhood Markets during the 4th quarter worth approximately $26,000. CoreCap Advisors LLC increased its stake in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after buying an additional 550 shares in the last quarter. 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 valued at $32,000 after buying an additional 750 shares in the last quarter. Colonial Trust Co SC bought a new position in shares of Robinhood Markets in the fourth quarter valued at about $34,000. Finally, Silicon Valley Capital Partners acquired a new position in Robinhood Markets during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on HOOD. KeyCorp dropped their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Citigroup lowered their target price on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Compass Point initiated coverage on Robinhood Markets in a research note on Wednesday, March 19th. They set a “buy” rating and a $61.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $53.24.

Insiders Place Their Bets

In other news, 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 transaction of $32,740,686.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the completion of the sale, the chief technology officer now directly owns 5,853 shares in the company, valued at approximately $201,987.03. This represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,243,727 shares of company stock worth $109,688,747. Company insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Up 1.1 %

Shares of HOOD stock opened at $54.65 on Friday. The firm has a market capitalization of $48.39 billion, a price-to-earnings ratio of 34.81, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The firm has a fifty day moving average of $43.38 and a 200-day moving average of $42.50.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same quarter last year, the company earned $0.18 earnings per share. The firm’s revenue was up 50.0% compared to the same quarter last year. Research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.