Jupiter Asset Management Ltd. Acquires New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Jupiter Asset Management Ltd. acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 76,967 shares of the company’s stock, valued at approximately $3,203,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC grew its holdings in shares of Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after purchasing an additional 273,860 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after purchasing an additional 3,091,514 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Robinhood Markets by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company’s stock valued at $398,667,000 after purchasing an additional 52,700 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Robinhood Markets by 231.9% during the fourth quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company’s stock valued at $195,907,000 after purchasing an additional 3,673,861 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $101.88, for a total value of $42,620,275.44. Following the completion of the sale, the director directly owned 10,518 shares in the company, valued at $1,071,573.84. This represents a 97.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $93.88, for a total value of $2,347,000.00. Following the sale, the insider owned 816,887 shares of the company’s stock, valued at $76,689,351.56. This trade represents a 2.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,001,690 shares of company stock valued at $255,967,852 over the last three months. 19.95% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Robinhood Markets from $91.00 to $104.00 and gave the company a “buy” rating in a report on Monday, July 7th. Keefe, Bruyette & Woods upped their target price on Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a report on Thursday. Needham & Company LLC upped their target price on Robinhood Markets from $71.00 to $120.00 and gave the company a “buy” rating in a report on Thursday. Citigroup upped their target price on Robinhood Markets from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Cantor Fitzgerald upped their target price on Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.29.

Robinhood Markets Price Performance

HOOD opened at $99.90 on Monday. The company has a market capitalization of $88.46 billion, a price-to-earnings ratio of 50.71, a price-to-earnings-growth ratio of 4.59 and a beta of 2.36. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $113.44. The business has a 50 day moving average price of $86.92 and a two-hundred day moving average price of $62.11.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. The firm’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 earnings per share. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.