Blueshift Asset Management LLC Acquires New Stake in Robinhood Markets, Inc. $HOOD

Blueshift Asset Management LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,406 shares of the company’s stock, valued at approximately $1,911,000. Robinhood Markets comprises approximately 0.6% of Blueshift Asset Management LLC’s portfolio, making the stock its 23rd biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Hantz Financial Services Inc. grew its holdings in shares of Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after purchasing an additional 148 shares during the last quarter. Hemington Wealth Management boosted its position in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares during the period. Smithfield Trust Co bought a new position in Robinhood Markets in the 2nd quarter worth about $29,000. Pandora Wealth Inc. bought a new position in Robinhood Markets in the 1st quarter worth about $33,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Robinhood Markets during the second quarter worth approximately $36,000. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Zacks Research lowered Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Citigroup lifted their target price on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Citizens Jmp increased their price target on Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Bank of America raised their price target on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, JMP Securities upped their price objective on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Fourteen equities research 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.95.

Robinhood Markets Stock Down 4.1%

Shares of Robinhood Markets stock opened at $123.24 on Tuesday. The company has a market cap of $110.82 billion, a P/E ratio of 51.14, a PEG ratio of 2.89 and a beta of 2.42. The firm’s 50 day moving average price is $132.67 and its 200-day moving average price is $108.13. Robinhood Markets, Inc. has a 52-week low of $29.66 and a 52-week high of $153.86.

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

Insiders Place Their Bets

In other Robinhood Markets news, insider Steven M. Quirk sold 48,350 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 70,279 shares in the company, valued at approximately $9,881,930.19. This trade represents a 40.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $121.33, for a total value of $6,066,500.00. Following the completion of the sale, the insider directly owned 480,949 shares of the company’s stock, valued at approximately $58,353,542.17. This represents a 9.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,020,272 shares of company stock worth $511,809,493. 14.47% of the stock is currently owned by company 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.