Quantbot Technologies LP Increases Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Quantbot Technologies LP boosted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 389.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,567 shares of the company’s stock after acquiring an additional 199,348 shares during the period. Quantbot Technologies LP’s holdings in Robinhood Markets were worth $5,868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Baker Avenue Asset Management LP lifted its holdings in shares of Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after acquiring an additional 203,354 shares during the last quarter. EULAV Asset Management raised its position in Robinhood Markets by 22.2% in the 3rd quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock worth $12,881,000 after purchasing an additional 100,000 shares during the period. Aigen Investment Management LP bought a new stake in Robinhood Markets in the third quarter worth $770,000. Robeco Institutional Asset Management B.V. boosted its position in Robinhood Markets by 146.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,161,240 shares of the company’s stock valued at $27,196,000 after buying an additional 690,467 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Robinhood Markets by 85.3% during the third quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock valued at $2,749,000 after buying an additional 54,046 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HOOD shares. Keefe, Bruyette & Woods lowered their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Barclays raised their price target on Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Piper Sandler upped their price target on shares of Robinhood Markets from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. JMP Securities raised their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $24.00 to $55.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.59.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the transaction, the insider now directly owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. This represents a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 139,916 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,685,549 shares of company stock worth $114,953,194. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Trading Down 3.8 %

NASDAQ HOOD opened at $36.42 on Wednesday. Robinhood Markets, Inc. has a twelve month low of $8.21 and a twelve month high of $39.74. The stock has a 50-day moving average of $27.27 and a 200 day moving average of $23.14. The stock has a market capitalization 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 posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share 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 company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The business’s revenue was up 36.4% on a year-over-year basis. Equities analysts predict that Robinhood Markets, Inc. will post 0.74 EPS for the current fiscal 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.