Quantinno Capital Management LP Has $887,000 Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Quantinno Capital Management LP raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 45.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,867 shares of the company’s stock after purchasing an additional 11,859 shares during the period. Quantinno Capital Management LP’s holdings in Robinhood Markets were worth $887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. HM Payson & Co. boosted its holdings 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 buying an additional 410 shares during the period. Eastern Bank acquired a new position in Robinhood Markets during the 3rd quarter worth $30,000. True Wealth Design LLC bought a new stake in Robinhood Markets during the third quarter valued at about $30,000. ORG Partners LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $33,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets in the third quarter worth about $33,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $40.20 on Friday. The firm has a market cap of $35.54 billion, a P/E ratio of 68.14, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09. The firm’s 50-day simple moving average is $31.70 and its 200-day simple moving average is $24.98. Robinhood Markets, Inc. has a twelve month low of $10.38 and a twelve month high of $42.76.

Robinhood Markets (NASDAQ:HOOD) last released 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 net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, equities analysts forecast that Robinhood Markets, Inc. will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HOOD has been the subject of several research analyst reports. The Goldman Sachs Group upgraded 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 research note on Friday, December 6th. Barclays upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $26.00 to $49.00 in a report on Monday, December 9th. JPMorgan Chase & Co. raised their price objective on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Citigroup upped their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Finally, KeyCorp increased their price target 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.13.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the transaction, the director now directly owns 2,521 shares in the company, valued at $66,554.40. The trade was a 97.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total transaction of $279,625.00. Following the sale, the insider now directly owns 1,057,500 shares of the company’s stock, valued at approximately $23,656,275. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,037,689 shares of company stock valued at $177,092,487 in the last 90 days. 19.95% of the stock is owned by corporate insiders.

About Robinhood Markets

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.