Caprock Group LLC Acquires 1,256 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Caprock Group LLC grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 100,527 shares of the company’s stock after purchasing an additional 1,256 shares during the quarter. Caprock Group LLC’s holdings in Robinhood Markets were worth $2,354,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after buying an additional 3,817,355 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Robinhood Markets by 37.7% during the 2nd 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. Sparta 24 Ltd. grew its stake in Robinhood Markets by 905.8% in the third quarter. Sparta 24 Ltd. now owns 1,625,158 shares of the company’s stock valued at $38,061,000 after purchasing an additional 1,463,578 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Robinhood Markets by 169.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock worth $40,092,000 after purchasing an additional 1,251,495 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Robinhood Markets by 274.7% during the second quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock valued at $37,341,000 after buying an additional 1,218,317 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the transaction, the insider now directly owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,710,549 shares of company stock worth $115,477,194. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Up 0.7 %

Shares of HOOD stock opened at $35.24 on Wednesday. Robinhood Markets, Inc. has a 52-week low of $7.96 and a 52-week high of $36.32. The stock has a market cap of $31.15 billion, a PE ratio of 59.73, a price-to-earnings-growth ratio of 0.77 and a beta of 1.84. The business has a 50-day simple moving average of $26.09 and a 200-day simple moving average of $22.62.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) EPS. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Robinhood Markets from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday. Bank of America increased their price objective on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. Barclays boosted their target price on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Citigroup increased their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Finally, Keefe, Bruyette & Woods dropped their price target on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.34.

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.