Sassicaia Capital Advisers LLC Buys Shares of 269,287 Robinhood Markets, Inc. $HOOD

Sassicaia Capital Advisers LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 269,287 shares of the company’s stock, valued at approximately $25,213,000. Robinhood Markets accounts for 15.9% of Sassicaia Capital Advisers LLC’s investment portfolio, making the stock its 3rd biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hantz Financial Services Inc. increased its position in Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after acquiring an additional 148 shares during the period. Smithfield Trust Co bought a new position in shares of Robinhood Markets in the second quarter worth $29,000. Pandora Wealth Inc. bought a new position in shares of Robinhood Markets in the first quarter worth $33,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Robinhood Markets during the second quarter valued at $34,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Robinhood Markets during the second quarter valued at about $36,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HOOD has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research report on Monday. Cantor Fitzgerald upped their target price on Robinhood Markets from $130.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Zacks Research upgraded Robinhood Markets from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Citigroup upped their price objective on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Finally, CICC Research initiated coverage on Robinhood Markets in a report on Monday, October 27th. They set an “outperform” rating and a $155.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $136.95.

Robinhood Markets Trading Down 3.7%

Shares of HOOD stock opened at $131.95 on Friday. The company has a market capitalization of $118.65 billion, a price-to-earnings ratio of 54.75, a P/E/G ratio of 3.08 and a beta of 2.43. Robinhood Markets, Inc. has a 1-year low of $29.66 and a 1-year high of $153.86. The stock’s fifty day simple moving average is $133.29 and its 200-day simple moving average is $109.43.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.20. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.Robinhood Markets’s quarterly revenue was up 100.0% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 49,942 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total transaction of $6,549,893.30. Following the completion of the transaction, the insider owned 54,496 shares of the company’s stock, valued at $7,147,150.40. The trade was a 47.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $116.56, for a total value of $48,761,477.28. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,099,236 shares of company stock valued at $525,040,481 over the last three months. Corporate insiders own 14.47% 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.