Y Intercept Hong Kong Ltd Buys Shares of 83,906 Robinhood Markets, Inc. (NASDAQ:HOOD)

Y Intercept Hong Kong Ltd acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 83,906 shares of the company's stock, valued at approximately $1,965,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HM Payson & Co. raised its position in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company's stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. Commerce Bank increased its stake in shares of Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company's stock worth $310,000 after buying an additional 423 shares during the period. Signaturefd LLC raised its holdings in Robinhood Markets by 16.5% in the third quarter. Signaturefd LLC now owns 3,437 shares of the company's stock valued at $80,000 after acquiring an additional 487 shares in the last quarter. Castleview Partners LLC lifted its stake in Robinhood Markets by 18.2% in the third quarter. Castleview Partners LLC now owns 3,788 shares of the company's stock worth $89,000 after acquiring an additional 582 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in Robinhood Markets by 3.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company's stock worth $463,000 after acquiring an additional 598 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 1.3 %

Shares of NASDAQ HOOD traded up $0.48 during midday trading on Wednesday, reaching $37.84. 23,263,154 shares of the company were exchanged, compared to its average volume of 16,770,850. The stock has a fifty day simple moving average of $30.71 and a 200 day simple moving average of $24.65. The stock has a market cap of $33.45 billion, a P/E ratio of 63.32, a PEG ratio of 0.93 and a beta of 2.08. Robinhood Markets, Inc. has a 1 year low of $10.38 and a 1 year high of $42.76.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results 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 net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same period in the previous year, the firm posted ($0.09) EPS. The company's revenue for the quarter was up 36.4% on a year-over-year basis. As a group, analysts forecast that Robinhood Markets, Inc. will post 0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HOOD. KeyCorp raised their price objective 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. Sanford C. Bernstein lifted their price target on Robinhood Markets from $30.00 to $51.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Morgan Stanley raised Robinhood Markets from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $24.00 to $55.00 in a research report on Monday, November 25th. Piper Sandler raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock an "overweight" rating in a research report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $36.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $38.13.

Insiders Place Their Bets

In other Robinhood Markets news, Director Meyer Malka sold 1,535,681 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the transaction, the director now owns 4,974,238 shares in the company, valued at approximately $199,516,686.18. This represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the firm's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $22.88, for a total value of $5,720,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,851,175 shares of company stock worth $169,980,708. 19.95% of the stock is owned by 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.