446,600 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Bought by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, HoldingsChannel reports. The fund acquired 446,600 shares of the company’s stock, valued at approximately $16,640,000. Robinhood Markets accounts for about 5.1% of BOCHK Asset Management Ltd’s investment portfolio, making the stock its 6th largest holding.

Several other institutional investors also recently modified their holdings of HOOD. Robeco Institutional Asset Management B.V. lifted its holdings in Robinhood Markets by 28.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,488,308 shares of the company’s stock valued at $55,454,000 after buying an additional 327,068 shares during the period. R Squared Ltd acquired a new position in Robinhood Markets in the fourth quarter valued at $212,000. Mount Yale Investment Advisors LLC acquired a new position in Robinhood Markets in the fourth quarter valued at $238,000. Requisite Capital Management LLC acquired a new position in Robinhood Markets in the fourth quarter valued at $266,000. Finally, DGS Capital Management LLC acquired a new position in Robinhood Markets in the fourth quarter valued at $270,000. Institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $50.67, for a total transaction of $4,604,180.22. Following the completion of the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at $255,478.14. This represents a 94.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $37.92, for a total transaction of $222,817.92. Following the transaction, the chief technology officer now directly owns 11,752 shares of the company’s stock, valued at $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,291,524 shares of company stock valued at $170,349,862. Corporate insiders own 19.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HOOD shares. KeyCorp boosted their target price on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. JMP Securities upped their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Sanford C. Bernstein upped their price objective 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.07.

Robinhood Markets Price Performance

HOOD opened at $49.38 on Wednesday. Robinhood Markets, Inc. has a fifty-two week low of $10.51 and a fifty-two week high of $52.06. The company’s 50-day moving average is $40.92 and its 200 day moving average is $29.59. The firm has a market capitalization of $43.65 billion, a PE ratio of 83.69, a P/E/G ratio of 0.67 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. As a group, analysts expect that Robinhood Markets, Inc. will post 0.97 EPS 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.