Penserra Capital Management LLC Grows Stock Position in Robinhood Markets, Inc. $HOOD

Penserra Capital Management LLC boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 9.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,456 shares of the company’s stock after buying an additional 6,102 shares during the period. Penserra Capital Management LLC’s holdings in Robinhood Markets were worth $6,596,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. True Vision MN LLC lifted its holdings in shares of Robinhood Markets by 1.7% during the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock worth $642,000 after acquiring an additional 116 shares during the period. Forum Financial Management LP raised its stake in Robinhood Markets by 0.8% during the second quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock worth $1,685,000 after purchasing an additional 134 shares during the period. Hemington Wealth Management boosted its holdings in shares of Robinhood Markets by 22.5% in the 2nd quarter. Hemington Wealth Management now owns 779 shares of the company’s stock valued at $72,000 after purchasing an additional 143 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Robinhood Markets by 2.3% during the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock valued at $620,000 after buying an additional 148 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in shares of Robinhood Markets by 120.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after buying an additional 148 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $130.36 on Friday. The company has a market cap of $115.85 billion, a P/E ratio of 54.09, a PEG ratio of 3.31 and a beta of 2.42. Robinhood Markets, Inc. has a one year low of $29.21 and a one year high of $153.86. The business’s 50-day simple moving average is $130.11 and its 200 day simple moving average is $99.94.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a return on equity of 22.13% and a net margin of 52.19%.Robinhood Markets’s quarterly revenue was up 100.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. Analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HOOD shares. Bank of America increased their target price on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Morgan Stanley raised their price objective on Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Cantor Fitzgerald lifted their price objective on Robinhood Markets from $130.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday. JMP Securities boosted their target price on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a report on Thursday. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.65.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $133.11, for a total transaction of $55,684,971.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $146.91, for a total transaction of $861,480.24. Following the completion of the transaction, the chief technology officer owned 6,088 shares of the company’s stock, valued at $894,388.08. This trade represents a 49.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 3,385,742 shares of company stock valued at $403,923,453. 14.47% 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.