Y Intercept Hong Kong Ltd Purchases 19,639 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Y Intercept Hong Kong Ltd grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 23.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 103,545 shares of the company’s stock after acquiring an additional 19,639 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Robinhood Markets were worth $3,858,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank increased its holdings in Robinhood Markets by 31.1% in the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after buying an additional 16,219 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of Robinhood Markets during the 4th quarter valued at about $634,000. Atomi Financial Group Inc. lifted its position in shares of Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after buying an additional 92,613 shares in the last quarter. Requisite Capital Management LLC purchased a new position in shares of Robinhood Markets during the 4th quarter valued at about $266,000. Finally, Baker Avenue Asset Management LP raised its stake in Robinhood Markets by 77.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after purchasing an additional 203,354 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays lifted their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods boosted their target price on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Mizuho boosted their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Citigroup boosted their price objective on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $59.53.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $51.60 on Monday. The business’s 50-day moving average is $47.42 and its 200 day moving average is $34.03. Robinhood Markets, Inc. has a 1 year low of $13.59 and a 1 year high of $66.91. The firm has a market capitalization of $45.61 billion, a P/E ratio of 32.87, a P/E/G ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In other news, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the sale, the director now owns 4,974,238 shares in the company, valued at $199,516,686.18. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,520,607 shares of company stock valued at $200,784,430. Company insiders own 19.95% of the company’s stock.

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.