Evergreen Capital Management LLC Purchases 48,389 Shares of Robinhood Markets, Inc. $HOOD

Evergreen Capital Management LLC grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 117.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,680 shares of the company’s stock after buying an additional 48,389 shares during the period. Evergreen Capital Management LLC’s holdings in Robinhood Markets were worth $8,397,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WCM Investment Management LLC increased its stake in shares of Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after purchasing an additional 11,244,182 shares during the last quarter. Norges Bank acquired a new stake in Robinhood Markets during the 2nd quarter worth approximately $973,122,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter worth about $951,479,000. Paradigm Operations LP purchased a new stake in shares of Robinhood Markets in the second quarter valued at about $308,979,000. Finally, Altimeter Capital Management LP bought a new position in shares of Robinhood Markets during the 1st quarter worth approximately $120,103,000. 93.27% of the stock is currently owned by institutional investors.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 1,330,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 49,942 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $131.15, for a total value of $6,549,893.30. Following the transaction, the insider directly owned 54,496 shares of the company’s stock, valued at approximately $7,147,150.40. This trade represents a 47.82% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,686,763 shares of company stock valued at $475,858,262. Insiders own 14.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on HOOD. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research note on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a research note on Monday, December 8th. Barclays upped their price objective on shares of Robinhood Markets from $168.00 to $171.00 and gave the stock an “overweight” rating in a research report on Friday. Cantor Fitzgerald lowered their price target on shares of Robinhood Markets from $155.00 to $152.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Compass Point reissued a “buy” rating on shares of Robinhood Markets in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $136.32.

Robinhood Markets Stock Down 3.1%

Shares of NASDAQ:HOOD opened at $119.50 on Friday. The company’s 50-day moving average price is $132.04 and its 200 day moving average price is $112.04. The company has a market cap of $107.45 billion, a PE ratio of 49.59, a P/E/G ratio of 2.40 and a beta of 2.43. Robinhood Markets, Inc. has a fifty-two week low of $29.66 and a fifty-two week high of $153.86.

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

Robinhood Markets Company 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.