Trexquant Investment LP Grows Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Trexquant Investment LP raised its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 479,551 shares of the company’s stock after acquiring an additional 32,294 shares during the quarter. Trexquant Investment LP owned approximately 0.05% of Robinhood Markets worth $17,868,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the 4th quarter worth approximately $26,000. Creative Financial Designs Inc. ADV increased its position in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after buying an additional 750 shares in the last quarter. Silicon Valley Capital Partners acquired a new position in shares of Robinhood Markets in the fourth quarter worth $37,000. Bogart Wealth LLC acquired a new position in shares of Robinhood Markets in the fourth quarter worth $37,000. Finally, Spire Wealth Management boosted its stake in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after acquiring an additional 549 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on HOOD shares. Citigroup boosted their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Morgan Stanley boosted their price target on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Needham & Company LLC dropped their target price on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.82.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $42.16 on Wednesday. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The company has a market capitalization of $37.33 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.05 and a beta of 2.14. The business has a 50-day moving average of $48.88 and a 200-day moving average of $38.60.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 228,645 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the completion of the sale, the director now owns 5,042 shares in the company, valued at $203,545.54. This trade represents a 97.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Insiders have sold 2,955,655 shares of company stock valued at $143,072,448 in the last quarter. Company 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.