Verition Fund Management LLC Acquires 20,838 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Verition Fund Management LLC increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 34.2% during the third quarter, Holdings Channel.com reports. The fund owned 81,843 shares of the company’s stock after purchasing an additional 20,838 shares during the quarter. Verition Fund Management LLC’s holdings in Robinhood Markets were worth $1,917,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 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 buying an additional 410 shares in the last quarter. Eastern Bank bought a new position in shares of Robinhood Markets in the third quarter worth about $30,000. ORG Partners LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at approximately $33,000. ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at approximately $33,000. Finally, International Assets Investment Management LLC acquired a new position in Robinhood Markets during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $38.92 on Friday. The stock has a market cap of $34.40 billion, a PE ratio of 65.97, a price-to-earnings-growth ratio of 0.90 and a beta of 2.09. Robinhood Markets, Inc. has a 1 year low of $10.38 and a 1 year high of $42.76. The firm has a fifty day moving average price of $29.40 and a 200-day moving average price of $24.09.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data 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). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same quarter in the previous year, the business earned ($0.09) EPS. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. On average, research analysts expect that Robinhood Markets, Inc. will post 0.74 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 139,916 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $19.55, for a total transaction of $2,735,357.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $22.88, for a total value of $5,720,000.00. The disclosure for this sale can be found here. Insiders have sold 4,455,410 shares of company stock valued at $111,119,901 in the last quarter. 19.95% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $24.00 to $55.00 in a research report on Monday, November 25th. Piper Sandler increased their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday. JMP Securities boosted their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group increased their price objective on shares of Robinhood Markets from $25.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $35.40.

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.