Perpetual Ltd Makes New $1.14 Million Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Perpetual Ltd bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 30,564 shares of the company’s stock, valued at approximately $1,139,000.

A number of other hedge funds have also made changes to their positions in HOOD. HM Payson & Co. boosted its stake in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the last quarter. Eastern Bank acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at about $30,000. True Wealth Design LLC bought a new position in shares of Robinhood Markets during the third quarter worth about $30,000. ORG Wealth Partners LLC acquired a new position in Robinhood Markets in the third quarter worth about $33,000. Finally, Connective Portfolio Management LLC bought a new stake in Robinhood Markets in the third quarter valued at about $47,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HOOD. Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Citigroup raised their price target on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Morgan Stanley boosted their target price on shares of Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.07.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total value of $477,750.00. Following the completion of the sale, the insider now owns 1,106,955 shares of the company’s stock, valued at $42,307,820.10. This trade represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 90,866 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $45.27, for a total value of $4,113,503.82. Following the transaction, the director now directly owns 5,042 shares in the company, valued at $228,251.34. The trade was a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,700,658 shares of company stock valued at $140,360,682. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 0.3 %

NASDAQ:HOOD opened at $50.16 on Thursday. The business’s 50-day moving average price is $39.64 and its 200 day moving average price is $28.77. Robinhood Markets, Inc. has a 52-week low of $10.51 and a 52-week high of $51.09. The firm has a market cap of $44.34 billion, a P/E ratio of 85.02, a PEG ratio of 0.65 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 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 business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 36.4% compared to the same quarter last year. Sell-side analysts expect that Robinhood Markets, Inc. will post 0.97 EPS for the current year.

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.