Caxton Associates LP Purchases New Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Caxton Associates LP acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 38,008 shares of the company’s stock, valued at approximately $863,000.

Several other hedge funds have also recently bought and sold shares of HOOD. PNC Financial Services Group Inc. lifted its holdings in shares of Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the period. ORG Partners LLC bought a new position in Robinhood Markets in the second quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC acquired a new position in Robinhood Markets during the first quarter valued at approximately $34,000. International Assets Investment Management LLC bought a new stake in Robinhood Markets during the second quarter worth $40,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at $45,000. 93.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

HOOD has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their price target on Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price for the company in a report on Wednesday, June 26th. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a research note on Thursday, August 8th. Piper Sandler upped their price objective on shares of Robinhood Markets from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Robinhood Markets from a “hold” rating to a “buy” rating and raised their target price for the company from $21.00 to $24.00 in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.10.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 120,236 shares of Robinhood Markets stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $22.20, for a total value of $2,669,239.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Baiju Bhatt sold 120,236 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $22.20, for a total transaction of $2,669,239.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total value of $285,000.00. Following the completion of the sale, the insider now owns 956,247 shares of the company’s stock, valued at $21,802,431.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,204,096 shares of company stock valued at $23,603,793. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $22.43 on Friday. The stock has a market capitalization of $19.71 billion, a PE ratio of 149.53 and a beta of 1.82. The business’s 50 day simple moving average is $20.48 and its 200 day simple moving average is $20.12. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The company had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same period in the prior year, the firm posted $0.03 EPS. The company’s quarterly revenue was up 40.3% on a year-over-year basis. As a group, research analysts expect that Robinhood Markets, Inc. will post 0.76 earnings per share 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.