Candriam S.C.A. Boosts Position in Robinhood Markets, Inc. $HOOD

Candriam S.C.A. grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 12.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,052 shares of the company’s stock after acquiring an additional 5,710 shares during the period. Candriam S.C.A.’s holdings in Robinhood Markets were worth $4,780,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC lifted its holdings in Robinhood Markets by 6.4% in the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock valued at $2,092,000 after purchasing an additional 3,032 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock worth $677,000 after buying an additional 486 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Robinhood Markets by 125.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock worth $799,000 after buying an additional 10,703 shares in the last quarter. Metavasi Capital LP boosted its position in Robinhood Markets by 275.0% during the first quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock worth $3,122,000 after acquiring an additional 55,000 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Robinhood Markets by 137.6% during the 1st quarter. Deutsche Bank AG now owns 1,761,767 shares of the company’s stock valued at $73,325,000 after acquiring an additional 1,020,286 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of research reports. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price (up from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Needham & Company LLC lifted their price objective on Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Cantor Fitzgerald upped their target price on Robinhood Markets from $130.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. KeyCorp raised their target price on Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Dbs Bank raised shares of Robinhood Markets to a “moderate buy” rating in a research report on Wednesday. Fifteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.65.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $122.50 on Friday. The stock has a market capitalization of $110.15 billion, a P/E ratio of 50.83, a PEG ratio of 2.80 and a beta of 2.42. The firm’s 50-day moving average is $132.81 and its two-hundred day moving average is $102.77. Robinhood Markets, Inc. has a 12 month low of $29.66 and a 12 month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm earned $0.17 EPS. The business’s revenue was up 100.0% on a year-over-year basis. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $146.91, for a total transaction of $861,480.24. Following the transaction, the chief technology officer directly owned 6,088 shares in the company, valued at $894,388.08. This represents a 49.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven M. Quirk sold 48,350 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $140.61, for a total value of $6,798,493.50. Following the transaction, the insider owned 70,279 shares of the company’s stock, valued at approximately $9,881,930.19. This represents a 40.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,297,404 shares of company stock valued at $529,026,559 over the last quarter. 14.47% of the stock is owned by corporate 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.