Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Holdings Reduced by ARK Investment Management LLC

ARK Investment Management LLC reduced its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 28.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,907,172 shares of the company’s stock after selling 5,067,173 shares during the period. Robinhood Markets makes up 4.0% of ARK Investment Management LLC’s investment portfolio, making the stock its 6th largest position. ARK Investment Management LLC’s holdings in Robinhood Markets were worth $480,921,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the fourth quarter worth approximately $26,000. HM Payson & Co. grew its position in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of Robinhood Markets during the third quarter worth approximately $30,000. Silicon Valley Capital Partners purchased a new position in shares of Robinhood Markets during the fourth quarter worth approximately $37,000. Finally, Bogart Wealth LLC purchased a new position in shares of Robinhood Markets during the fourth quarter worth approximately $37,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley raised their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Sanford C. Bernstein increased their price target on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.53.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $45.92 on Wednesday. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The business has a fifty day moving average of $47.64 and a two-hundred day moving average of $34.46. The company has a market cap of $40.59 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating 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%. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 186,514 shares of Robinhood Markets stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the completion of the transaction, the director now owns 2,521 shares of the company’s stock, valued at $96,125.73. The trade was a 98.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 123,272 shares of Robinhood Markets stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the transaction, the insider now directly owns 298,826 shares of the company’s stock, valued at $16,674,490.80. This trade represents a 29.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,643,879 shares of company stock valued at $207,663,007 in the last 90 days. 19.95% of the stock is currently owned by 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.