CX Institutional Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

CX Institutional purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the first quarter, according to its most recent filing with the SEC. The fund purchased 2,037 shares of the company’s stock, valued at approximately $85,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Yousif Capital Management LLC acquired a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $321,000. Empowered Funds LLC lifted its holdings in shares of Robinhood Markets by 279.5% in the fourth quarter. Empowered Funds LLC now owns 33,985 shares of the company’s stock valued at $1,266,000 after purchasing an additional 25,030 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Robinhood Markets by 0.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 186,232 shares of the company’s stock worth $7,267,000 after buying an additional 1,646 shares during the period. Vontobel Holding Ltd. grew its holdings in shares of Robinhood Markets by 124.3% during the fourth quarter. Vontobel Holding Ltd. now owns 63,080 shares of the company’s stock valued at $2,350,000 after buying an additional 34,955 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Robinhood Markets by 2.1% during the fourth quarter. Rhumbline Advisers now owns 746,547 shares of the company’s stock valued at $27,816,000 after buying an additional 15,468 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $43.36, for a total transaction of $253,786.08. Following the completion of the sale, the chief technology officer now directly owns 11,706 shares in the company, valued at approximately $507,572.16. This represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total value of $31,078,330.02. Following the transaction, the director now owns 7,863 shares of the company’s stock, valued at approximately $584,142.27. This represents a 98.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,650,974 shares of company stock valued at $142,977,123 over the last three months. Corporate insiders own 14.47% of the company’s stock.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $76.75 on Tuesday. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $77.80. The firm has a market capitalization of $67.96 billion, a P/E ratio of 48.89, a P/E/G ratio of 1.05 and a beta of 2.25. The company’s 50 day moving average price is $57.07 and its two-hundred day moving average price is $49.08.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same quarter last year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was up 50.0% on a year-over-year basis. On average, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HOOD. Needham & Company LLC reissued a “buy” rating and issued a $71.00 price target on shares of Robinhood Markets in a research report on Tuesday, May 27th. Compass Point initiated coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $57.17.

Robinhood Markets Profile

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.