K.J. Harrison & Partners Inc Makes New Investment in Robinhood Markets, Inc. $HOOD

K.J. Harrison & Partners Inc bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, HoldingsChannel reports. The fund bought 35,392 shares of the company’s stock, valued at approximately $3,314,000.

Several other hedge funds also recently bought and sold shares of HOOD. WCM Investment Management LLC boosted its stake in Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after buying an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Robinhood Markets in the second quarter valued at approximately $951,479,000. Vanguard Group Inc. boosted its stake in shares of Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares during the period. AGF Management Ltd. boosted its stake in shares of Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after purchasing an additional 4,255,862 shares during the period. Finally, Wealthquest Corp purchased a new position in shares of Robinhood Markets in the first quarter valued at approximately $156,193,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 6.3%

Shares of NASDAQ:HOOD opened at $146.78 on Monday. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86. The firm’s 50 day moving average price is $126.98 and its 200 day moving average price is $96.99. The stock has a market cap of $130.44 billion, a price-to-earnings ratio of 74.51, a price-to-earnings-growth ratio of 3.81 and a beta of 2.42.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction that occurred 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 at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $146.91, for a total transaction of $861,480.24. Following the sale, the chief technology officer directly owned 6,088 shares in the company, valued at approximately $894,388.08. The trade was a 49.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,352,523 shares of company stock valued at $397,678,326 in the last quarter. Company insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HOOD shares. Zacks Research lowered shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Bank of America raised their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Loop Capital set a $161.00 price objective on shares of Robinhood Markets in a research note on Monday, October 27th. Needham & Company LLC raised their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Finally, Barclays raised their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $125.10.

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.