Y Intercept Hong Kong Ltd Increases Position in Robinhood Markets, Inc. $HOOD

Y Intercept Hong Kong Ltd grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 62.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,708 shares of the company’s stock after acquiring an additional 4,870 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Robinhood Markets were worth $1,190,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after buying an additional 5,874,701 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of Robinhood Markets by 3,615.7% in the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after buying an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at about $951,479,000. AGF Management Ltd. lifted its holdings in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after buying an additional 4,255,862 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Robinhood Markets by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock valued at $201,913,000 after purchasing an additional 131,620 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HOOD. Citizens Jmp lifted their price target on Robinhood Markets from $130.00 to $170.00 and gave the company a “mkt outperform” rating in a research note on Thursday, October 9th. KeyCorp boosted their price objective on Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday. CICC Research initiated coverage on Robinhood Markets in a research note on Monday, October 27th. They set an “outperform” rating and a $155.00 price objective for the company. Citigroup boosted their price objective on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Finally, Cantor Fitzgerald boosted their price objective on Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $125.10.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 418,338 shares of the company’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $133.11, for a total value of $55,684,971.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $148.34, for a total value of $3,708,500.00. Following the completion of the sale, the insider owned 565,949 shares of the company’s stock, valued at $83,952,874.66. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 3,312,392 shares of company stock valued at $393,476,209. Insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

HOOD stock opened at $147.08 on Tuesday. The business has a 50 day simple moving average of $127.76 and a 200-day simple moving average of $97.74. The firm has a market capitalization of $130.71 billion, a PE ratio of 74.66, a price-to-earnings-growth ratio of 3.81 and a beta of 2.42. Robinhood Markets, Inc. has a 1 year low of $23.54 and a 1 year high of $153.86.

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.