Pallas Capital Advisors LLC Has $1.18 Million Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Pallas Capital Advisors LLC lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 51.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,657 shares of the company’s stock after purchasing an additional 10,727 shares during the period. Pallas Capital Advisors LLC’s holdings in Robinhood Markets were worth $1,180,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. FMR LLC raised its position in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the last quarter. State Street Corp lifted its stake in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after acquiring an additional 1,085,679 shares during the period. Geode Capital Management LLC boosted its holdings in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after acquiring an additional 1,895,427 shares during the last quarter. Renaissance Technologies LLC increased its position in Robinhood Markets by 37.7% in the second 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 period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Robinhood Markets by 33.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after purchasing an additional 1,137,677 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Trading Down 1.2 %

HOOD opened at $39.59 on Tuesday. The stock has a market capitalization of $35.00 billion, a P/E ratio of 67.10, a P/E/G ratio of 0.81 and a beta of 2.07. Robinhood Markets, Inc. has a 12 month low of $10.38 and a 12 month high of $43.83. The firm’s fifty day simple moving average is $37.30 and its 200 day simple moving average is $27.61.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly 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). The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) earnings per share. On average, equities research analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HOOD has been the topic of several recent research reports. KeyCorp raised their target price on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods lifted their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. Finally, Piper Sandler increased their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.47.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $42.64, for a total transaction of $250,552.64. Following the completion of the transaction, the chief technology officer now owns 5,876 shares in the company, valued at approximately $250,552.64. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the sale, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,708,196 shares of company stock valued at $138,845,043 in the last quarter. 19.95% of the stock is currently owned by insiders.

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.