QRG Capital Management Inc. Increases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

QRG Capital Management Inc. raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 515.0% during the 3rd quarter, Holdings Channel reports. The firm owned 80,784 shares of the company’s stock after buying an additional 67,649 shares during the quarter. QRG Capital Management Inc.’s holdings in Robinhood Markets were worth $1,892,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HM Payson & Co. raised its holdings in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares during the period. Signaturefd LLC raised its stake in shares of Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after buying an additional 487 shares in the last quarter. Castleview Partners LLC increased its stake in Robinhood Markets by 18.2% in the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after purchasing an additional 582 shares in the last quarter. Angeles Wealth Management LLC increased its stake in Robinhood Markets by 5.3% in the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after purchasing an additional 610 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Robinhood Markets by 44.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after buying an additional 710 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the topic of several analyst reports. Barclays raised their price objective on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Bank of America lifted their target price on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods decreased their price target on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a research note on Thursday, October 31st. Finally, KeyCorp boosted their price objective on Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.17.

Robinhood Markets Stock Down 1.7 %

NASDAQ HOOD opened at $29.36 on Friday. The company has a market capitalization of $25.95 billion, a P/E ratio of 49.76, a P/E/G ratio of 0.58 and a beta of 1.84. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $30.06. The firm has a 50-day moving average price of $23.96 and a two-hundred day moving average price of $21.68.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 7.52% and a net margin of 21.80%. The business’s revenue was up 36.4% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. Equities analysts expect that Robinhood Markets, Inc. will post 0.71 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 143,944 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Baiju Bhatt sold 143,944 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total transaction of $2,696,071.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason Warnick sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $20.96, for a total transaction of $524,000.00. Following the transaction, the chief financial officer now directly owns 1,077,162 shares of the company’s stock, valued at approximately $22,577,315.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,748,618 shares of company stock worth $114,997,015. 19.95% of the stock is currently owned by company insiders.

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.