Quantbot Technologies LP Boosts Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Quantbot Technologies LP raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 389.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,567 shares of the company’s stock after purchasing an additional 199,348 shares during the quarter. Quantbot Technologies LP’s holdings in Robinhood Markets were worth $5,868,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOOD. O Shaughnessy Asset Management LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at $206,000. Price T Rowe Associates Inc. MD grew its position in Robinhood Markets by 169.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock valued at $40,092,000 after acquiring an additional 1,251,495 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in Robinhood Markets during the first quarter worth about $988,000. Cetera Advisors LLC acquired a new stake in shares of Robinhood Markets during the first quarter worth about $606,000. Finally, EULAV Asset Management boosted its stake in shares of Robinhood Markets by 4.5% in the first quarter. EULAV Asset Management now owns 700,000 shares of the company’s stock valued at $14,091,000 after purchasing an additional 30,000 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity

In other news, Director Meyer Malka sold 105,875 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $3,176,250.00. Following the completion of the sale, the director now owns 28,930,243 shares in the company, valued at approximately $867,907,290. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The disclosure for this sale can be found here. Insiders have sold 4,685,549 shares of company stock valued at $114,953,194 in the last ninety days. 19.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Piper Sandler increased their price objective on Robinhood Markets from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Needham & Company LLC raised Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, November 18th. Citigroup increased their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Finally, JMP Securities boosted their price objective on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.59.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $36.42 on Wednesday. The stock’s 50-day moving average is $27.27 and its two-hundred day moving average is $23.14. Robinhood Markets, Inc. has a 1 year low of $8.21 and a 1 year high of $39.74. The firm has a market cap of $32.19 billion, a price-to-earnings ratio of 61.73, a PEG ratio of 0.88 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same quarter in the prior year, the business earned ($0.09) EPS. The company’s quarterly revenue was up 36.4% compared to the same quarter last year. As a group, research analysts predict that Robinhood Markets, Inc. will post 0.74 EPS 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.