Moore Capital Management LP Buys Shares of 305,397 Robinhood Markets, Inc. (NASDAQ:HOOD)

Moore Capital Management LP acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 305,397 shares of the company’s stock, valued at approximately $11,379,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HOOD. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets during the fourth quarter worth approximately $26,000. CoreCap Advisors LLC increased its holdings in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in 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 purchasing an additional 750 shares during the period. Colonial Trust Co SC acquired a new position in shares of Robinhood Markets during the fourth quarter worth about $34,000. Finally, Silicon Valley Capital Partners purchased a new stake in shares of Robinhood Markets in the fourth quarter worth about $37,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $54.65 on Monday. The firm has a 50 day simple moving average of $43.38 and a 200 day simple moving average of $42.61. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The company has a market cap of $48.39 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business had revenue of $927.00 million during the quarter, compared to analysts’ expectations of $917.12 million. During the same quarter in the previous year, the company earned $0.18 EPS. Robinhood Markets’s revenue for the quarter was up 50.0% on a year-over-year basis. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on HOOD. Barclays dropped their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Citigroup reduced their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Piper Sandler upped their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 price objective on shares of Robinhood Markets in a research report on Thursday, March 27th. Finally, KeyCorp decreased 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 report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $53.24.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at $316,133.40. The trade was a 99.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,243,727 shares of company stock worth $109,688,747. 14.47% of the stock is owned by company insiders.

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.