TimesSquare Capital Management LLC Invests $71.32 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

TimesSquare Capital Management LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,914,060 shares of the company’s stock, valued at approximately $71,318,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Toronto Dominion Bank grew its stake in shares of Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after purchasing an additional 16,219 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Robinhood Markets in the fourth quarter worth $634,000. Atomi Financial Group Inc. grew its stake in shares of Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after purchasing an additional 92,613 shares in the last quarter. Requisite Capital Management LLC bought a new position in shares of Robinhood Markets in the fourth quarter worth $266,000. Finally, Baker Avenue Asset Management LP grew its stake in shares of Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after purchasing an additional 203,354 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the sale, the chief technology officer now directly owns 11,752 shares of the company’s stock, valued at approximately $445,635.84. This represents a 33.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of the stock in a transaction dated Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the sale, the insider now directly owns 395,166 shares of the company’s stock, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,470,607 shares of company stock valued at $197,745,930. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Down 7.4 %

Shares of NASDAQ HOOD opened at $60.44 on Wednesday. Robinhood Markets, Inc. has a 12 month low of $13.39 and a 12 month high of $66.91. The company has a market cap of $53.43 billion, a price-to-earnings ratio of 38.50, a P/E/G ratio of 0.80 and a beta of 2.13. The business has a fifty day simple moving average of $46.43 and a 200-day simple moving average of $33.22.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.96% and a net margin of 47.81%. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HOOD has been the subject of several research reports. KeyCorp raised their target price on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Barclays raised their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JMP Securities raised their target price on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Morgan Stanley raised their target price on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.53.

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.