Friedenthal Financial Purchases New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Friedenthal Financial acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 20,492 shares of the company’s stock, valued at approximately $764,000.

A number of other hedge funds have also recently added to or reduced their stakes in HOOD. Allspring Global Investments Holdings LLC lifted its stake in shares of Robinhood Markets by 1,211,858.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after acquiring an additional 3,817,355 shares during the last quarter. Azora Capital LP bought a new position in Robinhood Markets in the third quarter valued at about $79,780,000. FMR LLC boosted its stake in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after purchasing an additional 2,094,800 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake 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 buying an additional 1,895,427 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Shares of HOOD stock traded down $0.49 during trading hours on Monday, reaching $39.59. The company had a trading volume of 13,284,040 shares, compared to its average volume of 16,916,744. The company has a market cap of $35.00 billion, a price-to-earnings ratio of 67.10, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07. Robinhood Markets, Inc. has a 12 month low of $10.38 and a 12 month high of $43.83. The business has a fifty day simple moving average of $36.99 and a 200-day simple moving average of $27.49.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) earnings per share. On average, equities research analysts expect that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

HOOD has been the topic of several recent research reports. Citigroup lifted their target price on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday. Keefe, Bruyette & Woods boosted their price target on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $20.00 to $43.00 in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, JMP Securities increased their price target on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.47.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $24.21, for a total transaction of $6,052,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $42.64, for a total value of $250,552.64. Following the completion of the sale, the chief technology officer now owns 5,876 shares in the company, valued at approximately $250,552.64. The trade was a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,708,196 shares of company stock worth $138,845,043. 19.95% of the stock is 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.