Castleark Management LLC Acquires New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Castleark Management LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, Holdings Channel.com reports. The firm bought 22,520 shares of the company’s stock, valued at approximately $839,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $26,000. CoreCap Advisors LLC raised its holdings in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares during the period. Creative Financial Designs Inc. ADV lifted its position in shares of 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 acquiring 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 worth $34,000. Finally, Silicon Valley Capital Partners purchased a new position in shares of Robinhood Markets in the fourth quarter valued at $37,000. Institutional investors own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In other Robinhood Markets 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 transaction of $31,470,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 223,528 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the completion of the sale, the director now owns 5,042 shares of the company’s stock, valued at approximately $217,864.82. The trade was a 97.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,897,622 shares of company stock valued at $86,956,156. Corporate insiders own 14.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HOOD. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. JMP Securities reissued a “market outperform” rating and issued a $70.00 price target on shares of Robinhood Markets in a report on Thursday, May 1st. Needham & Company LLC boosted their price objective on shares of Robinhood Markets from $58.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Raymond James assumed coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. Finally, Cantor Fitzgerald cut their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $55.41.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $63.86 on Thursday. The firm has a market capitalization of $56.55 billion, a PE ratio of 40.68, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The firm has a fifty day moving average of $46.85 and a 200 day moving average of $44.35.

Robinhood Markets (NASDAQ:HOOD) last issued 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 firm had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same period last year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 50.0% on a year-over-year basis. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.