Gator Capital Management LLC Trims Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Gator Capital Management LLC lessened its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 664,300 shares of the company’s stock after selling 12,500 shares during the period. Robinhood Markets makes up about 9.3% of Gator Capital Management LLC’s investment portfolio, making the stock its biggest holding. Gator Capital Management LLC owned about 0.08% of Robinhood Markets worth $24,752,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets during the 4th quarter valued at about $26,000. Creative Financial Designs Inc. ADV lifted its stake in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 shares in the last quarter. Silicon Valley Capital Partners acquired a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $37,000. Bogart Wealth LLC acquired a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $37,000. Finally, Spire Wealth Management increased its position in shares of Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after acquiring an additional 549 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HOOD shares. Cantor Fitzgerald started coverage on Robinhood Markets in a report on Thursday, March 6th. They set an “overweight” rating and a $69.00 target price for the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Raymond James started coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating on the stock. Morgan Stanley upped their price target on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.24.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the sale, the insider now directly owns 706,642 shares in the company, valued at $36,462,727.20. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,627,010 shares of company stock valued at $131,897,049 over the last ninety days. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $34.51 on Friday. The stock has a 50-day simple moving average of $48.15 and a 200 day simple moving average of $38.82. The stock has a market capitalization of $30.56 billion, a P/E ratio of 21.98, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued 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 return on equity of 13.53% and a net margin of 47.81%. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Robinhood Markets Company 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.