Robinhood Markets, Inc. (NASDAQ:HOOD) is ARK Investment Management LLC’s 6th Largest Position

ARK Investment Management LLC decreased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 28.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,907,172 shares of the company’s stock after selling 5,067,173 shares during the quarter. Robinhood Markets comprises about 4.0% of ARK Investment Management LLC’s portfolio, making the stock its 6th biggest holding. ARK Investment Management LLC owned approximately 1.46% of Robinhood Markets worth $480,921,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth $26,000. HM Payson & Co. grew its holdings in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the period. True Wealth Design LLC purchased a new stake in shares of Robinhood Markets in the third quarter valued at about $30,000. Silicon Valley Capital Partners purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at about $37,000. Finally, Bogart Wealth LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on HOOD. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Citigroup upped their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Piper Sandler upped their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upped their price objective 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, Mizuho upped their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.53.

Insider Buying and Selling

In other Robinhood Markets news, Director Meyer Malka sold 1,535,681 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total value of $61,596,164.91. Following the transaction, the director now directly owns 4,974,238 shares in the company, valued at $199,516,686.18. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven M. Quirk sold 123,272 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the completion of the transaction, the insider now owns 298,826 shares in the company, valued at $16,674,490.80. This represents a 29.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,643,879 shares of company stock worth $207,663,007. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD opened at $45.92 on Wednesday. The stock has a market capitalization of $40.59 billion, a PE ratio of 29.25, a P/E/G ratio of 1.05 and a beta of 2.13. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The company’s 50-day simple moving average is $47.64 and its 200-day simple moving average is $34.46.

Robinhood Markets (NASDAQ:HOOD) last released its 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 net margin of 47.81% and a return on equity of 13.53%. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.