Connective Portfolio Management LLC Invests $1.64 Million in Robinhood Markets, Inc. $HOOD

Connective Portfolio Management LLC acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,000 shares of the company’s stock, valued at approximately $1,641,000. Robinhood Markets comprises about 2.9% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 14th biggest position.

Other large investors have also bought and sold shares of the company. HBW Advisory Services LLC lifted its stake in shares of Robinhood Markets by 9.1% in the third quarter. HBW Advisory Services LLC now owns 3,051 shares of the company’s stock worth $437,000 after acquiring an additional 254 shares during the period. KRS Capital Management LLC bought a new position in Robinhood Markets during the 3rd quarter worth approximately $423,000. Highland Capital Management LLC lifted its position in shares of Robinhood Markets by 426.4% in the 3rd quarter. Highland Capital Management LLC now owns 14,128 shares of the company’s stock worth $2,023,000 after purchasing an additional 11,444 shares during the period. Silverleafe Capital Partners LLC bought a new stake in shares of Robinhood Markets in the 3rd quarter valued at $582,000. Finally, Blue Trust Inc. boosted its stake in shares of Robinhood Markets by 81.9% in the 3rd quarter. Blue Trust Inc. now owns 2,186 shares of the company’s stock valued at $313,000 after purchasing an additional 984 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Price Performance

Shares of HOOD opened at $118.13 on Friday. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86. The company has a market cap of $106.22 billion, a PE ratio of 49.02, a P/E/G ratio of 2.20 and a beta of 2.43. The stock has a 50-day moving average of $127.79 and a 200-day moving average of $115.18.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results 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 for 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%.The company’s quarterly revenue was up 100.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HOOD. JMP Securities boosted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. Citigroup lifted their price objective on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. CICC Research initiated coverage on Robinhood Markets in a research note on Monday, October 27th. They issued an “outperform” rating and a $155.00 price objective on the stock. Zacks Research raised Robinhood Markets from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Robinhood Markets in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.30.

Insider Buying and Selling at Robinhood Markets

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 sale, the insider owned 54,496 shares in the company, valued at approximately $7,147,150.40. The trade was a 47.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $122.39, for a total transaction of $717,694.96. Following the transaction, the chief technology officer owned 20,861 shares in the company, valued at approximately $2,553,177.79. The trade was a 21.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,686,763 shares of company stock worth $475,848,059. 14.47% of the stock is owned by company insiders.

Robinhood Markets Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.