Versant Capital Management Inc Increases Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Versant Capital Management Inc increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 6,799.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,974 shares of the company’s stock after acquiring an additional 22,641 shares during the period. Versant Capital Management Inc’s holdings in Robinhood Markets were worth $856,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HOOD. HM Payson & Co. boosted its stake in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the last quarter. True Wealth Design LLC purchased a new position in Robinhood Markets in the third quarter valued at approximately $30,000. Eastern Bank purchased a new position in Robinhood Markets in the third quarter valued at approximately $30,000. ORG Wealth Partners LLC bought a new position in Robinhood Markets during the third quarter valued at $33,000. Finally, International Assets Investment Management LLC purchased a new stake in Robinhood Markets in the second quarter worth $40,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Steven M. Quirk sold 208,291 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total value of $5,203,109.18. Following the sale, the insider now directly owns 346,020 shares of the company’s stock, valued at approximately $8,643,579.60. This represents a 37.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the transaction, the director now owns 2,521 shares of the company’s stock, valued at $66,554.40. The trade was a 97.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,057,772 shares of company stock worth $182,023,158 in the last three months. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $39.44 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $43.83. The stock’s 50 day simple moving average is $35.24 and its two-hundred day simple moving average is $26.62. The stock has a market cap of $34.86 billion, a price-to-earnings ratio of 66.85, a PEG ratio of 0.81 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. On average, analysts predict that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup upped their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Piper Sandler upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Barclays upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $26.00 to $49.00 in a research note on Monday, December 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective (up from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.20.

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.