Concentric Capital Strategies LP Has $7.64 Million Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Concentric Capital Strategies LP increased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 214.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 326,374 shares of the company’s stock after buying an additional 222,738 shares during the period. Concentric Capital Strategies LP’s holdings in Robinhood Markets were worth $7,644,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. HM Payson & Co. increased its stake 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 worth $28,000 after purchasing an additional 410 shares during the last quarter. Eastern Bank purchased a new stake in shares of Robinhood Markets in the 3rd quarter worth $30,000. True Wealth Design LLC bought a new position in shares of Robinhood Markets during the third quarter worth $30,000. ORG Partners LLC bought a new stake in Robinhood Markets in the second quarter worth $33,000. Finally, ORG Wealth Partners LLC bought a new stake in Robinhood Markets during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Price Performance

HOOD opened at $37.54 on Monday. The business’s 50-day moving average is $28.43 and its two-hundred day moving average is $23.67. The firm has a market capitalization of $33.18 billion, a PE ratio of 63.63, a price-to-earnings-growth ratio of 0.87 and a beta of 1.84. Robinhood Markets, Inc. has a 1 year low of $8.69 and a 1 year high of $39.74.

Robinhood Markets (NASDAQ:HOOD) last posted 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 return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The business’s revenue was up 36.4% on a year-over-year basis. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 0.74 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the company’s 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total transaction of $4,815,000.00. The disclosure for this sale can be found here. Insiders sold a total of 4,685,549 shares of company stock valued at $114,953,194 in the last ninety days. Insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on HOOD shares. Piper Sandler raised their price objective on Robinhood Markets from $30.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods lowered their price objective on shares of 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. The Goldman Sachs Group decreased their price target on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Bank of America increased their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

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.