Perpetual Ltd Purchases New Shares in Robinhood Markets, Inc. (NASDAQ:HOOD)

Perpetual Ltd purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 30,564 shares of the company’s stock, valued at approximately $1,139,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HOOD. HM Payson & Co. lifted its holdings in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares during the period. Eastern Bank purchased a new stake in Robinhood Markets during the third quarter valued at approximately $30,000. True Wealth Design LLC acquired a new stake in Robinhood Markets in the third quarter valued at approximately $30,000. ORG Wealth Partners LLC purchased a new position in Robinhood Markets in the third quarter worth $33,000. Finally, Connective Portfolio Management LLC acquired a new position in shares of Robinhood Markets during the third quarter worth $47,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

HOOD opened at $50.16 on Thursday. The stock has a market capitalization of $44.34 billion, a PE ratio of 85.02, a P/E/G ratio of 0.65 and a beta of 2.07. Robinhood Markets, Inc. has a one year low of $10.51 and a one year high of $51.09. The business’s 50 day moving average price is $39.64 and its 200 day moving average price is $28.77.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on HOOD shares. Citigroup raised their price objective on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Barclays increased their price objective on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Morgan Stanley boosted their target price on shares of Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, KeyCorp lifted their price objective on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.07.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the transaction, the chief technology officer now owns 11,752 shares of the company’s stock, valued at $445,635.84. The trade was a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,700,658 shares of company stock valued at $140,360,682 over the last 90 days. 19.95% of the stock is owned by company 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.