Arrowstreet Capital Limited Partnership Acquires Shares of 684,129 Robinhood Markets, Inc. (NASDAQ:HOOD)

Arrowstreet Capital Limited Partnership bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 684,129 shares of the company’s stock, valued at approximately $25,491,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its position in Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after acquiring an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares in the last quarter. Norges Bank bought a new position in Robinhood Markets in the 4th quarter worth approximately $329,598,000. GQG Partners LLC acquired a new position in Robinhood Markets during the 4th quarter worth $302,325,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after buying an additional 138,267 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the transaction, the chief technology officer now owns 17,559 shares of the company’s stock, valued at $821,936.79. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,627,010 shares of company stock worth $131,897,049 over the last ninety days. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $38.26 on Friday. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The firm has a market cap of $33.88 billion, a P/E ratio of 24.37, a P/E/G ratio of 1.05 and a beta of 2.14. The stock’s 50-day moving average is $48.49 and its 200-day moving average is $38.62.

Robinhood Markets (NASDAQ:HOOD) last announced its 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 net margin of 47.81% and a return on equity of 13.53%. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Upgrades and Downgrades

HOOD has been the topic of several research reports. Raymond James assumed coverage on Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating on the stock. KeyCorp raised their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Piper Sandler raised their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC lowered their target price 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. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.24.

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.