Quadrature Capital Ltd Purchases 180,641 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Quadrature Capital Ltd boosted its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 821.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 202,623 shares of the company’s stock after acquiring an additional 180,641 shares during the quarter. Quadrature Capital Ltd’s holdings in Robinhood Markets were worth $4,749,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Baker Avenue Asset Management LP increased its stake in Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after acquiring an additional 203,354 shares during the last quarter. Bridgewater Associates LP increased its stake in Robinhood Markets by 100.4% in the third quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock valued at $7,751,000 after acquiring an additional 165,791 shares during the last quarter. EULAV Asset Management increased its stake in Robinhood Markets by 22.2% in the third quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock valued at $12,881,000 after acquiring an additional 100,000 shares during the last quarter. Blueshift Asset Management LLC boosted its position in Robinhood Markets by 376.5% in the third quarter. Blueshift Asset Management LLC now owns 144,941 shares of the company’s stock valued at $3,395,000 after buying an additional 114,525 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Robinhood Markets in the third quarter valued at approximately $770,000. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HOOD. Bank of America raised their target price on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. The Goldman Sachs Group raised their target price on shares of Robinhood Markets from $25.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday. Barclays raised their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Finally, JMP Securities lifted their price target 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. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $35.40.

Robinhood Markets Stock Down 2.7 %

HOOD opened at $38.92 on Friday. The stock has a market cap of $34.40 billion, a price-to-earnings ratio of 65.97, a PEG ratio of 0.90 and a beta of 2.09. Robinhood Markets, Inc. has a twelve month low of $10.38 and a twelve month high of $42.76. The company’s 50-day moving average price is $29.40 and its two-hundred day moving average price is $24.09.

Robinhood Markets (NASDAQ:HOOD) last released its 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 company had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm’s revenue was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.74 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total transaction of $477,750.00. Following the sale, the insider now owns 1,106,955 shares of the company’s stock, valued at approximately $42,307,820.10. This represents a 1.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 139,916 shares of the stock in a transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,455,410 shares of company stock worth $111,119,901. 19.95% of the stock is owned by corporate 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.