Robeco Institutional Asset Management B.V. Acquires 327,068 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Robeco Institutional Asset Management B.V. grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 28.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,488,308 shares of the company’s stock after acquiring an additional 327,068 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.17% of Robinhood Markets worth $55,454,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of HOOD. HM Payson & Co. lifted its position in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Robinhood Markets during the 3rd quarter worth $30,000. Eastern Bank purchased a new position in Robinhood Markets in the third quarter worth $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 bought a new position in Robinhood Markets in the third quarter valued at $47,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

HOOD has been the subject of a number of research reports. KeyCorp upped their price objective on Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Sanford C. Bernstein upped their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and increased their target price for the company from $40.00 to $46.00 in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $43.07.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $51.15 on Thursday. The stock’s 50-day moving average is $41.22 and its 200 day moving average is $29.74. The company has a market cap of $45.22 billion, a PE ratio of 86.70, a P/E/G ratio of 0.67 and a beta of 2.07. Robinhood Markets, Inc. has a 1 year low of $10.51 and a 1 year high of $52.06.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $637.00 million for 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%. Robinhood Markets’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period last year, the firm posted ($0.09) earnings per share. Analysts expect that Robinhood Markets, Inc. will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 108,964 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $24.92, for a total value of $2,715,382.88. Following the completion of the transaction, the director now owns 2,521 shares of the company’s stock, valued at approximately $62,823.32. This represents a 97.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $24.21, for a total value of $6,052,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,297,400 shares of company stock worth $170,630,852. 19.95% of the stock is currently owned by corporate insiders.

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.