Bridgewater Associates LP Increases Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Bridgewater Associates LP raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 100.4% during the 3rd quarter, Holdings Channel reports. The firm owned 330,956 shares of the company’s stock after buying an additional 165,791 shares during the quarter. Bridgewater Associates LP’s holdings in Robinhood Markets were worth $7,751,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. HM Payson & Co. lifted its position in shares of Robinhood Markets by 53.5% during 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 in the last quarter. Eastern Bank purchased a new position in Robinhood Markets during the third quarter valued at $30,000. ORG Partners LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $33,000. ORG Wealth Partners LLC purchased a new stake in shares of Robinhood Markets during the third quarter worth about $33,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Robinhood Markets during the 2nd quarter worth about $40,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 3.4 %

Shares of Robinhood Markets stock opened at $37.65 on Friday. The business’s fifty day simple moving average is $27.84 and its 200-day simple moving average is $23.39. The firm has a market cap of $33.28 billion, a PE ratio of 63.81, a price-to-earnings-growth ratio of 0.88 and a beta of 1.84. Robinhood Markets, Inc. has a 52 week low of $8.35 and a 52 week high of $39.74.

Robinhood Markets (NASDAQ:HOOD) last announced its 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 company had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period last year, the business earned ($0.09) EPS. As a group, equities analysts expect that Robinhood Markets, Inc. will post 0.74 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on HOOD. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $24.00 to $55.00 in a report on Monday. Bank of America increased their price objective on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods decreased their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. JMP Securities upped their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.59.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the transaction, the insider now owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. This represents a 1.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the sale, the director now directly owns 29,357,336 shares in the company, valued at $735,988,413.52. This represents a 9.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,685,549 shares of company stock valued at $114,953,194. Company insiders own 19.95% of the company’s stock.

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.