Blueshift Asset Management LLC Invests $1.91 Million in Robinhood Markets, Inc. $HOOD

Blueshift Asset Management LLC acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,406 shares of the company’s stock, valued at approximately $1,911,000. Robinhood Markets comprises approximately 0.6% of Blueshift Asset Management LLC’s holdings, making the stock its 23rd biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its stake in 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 purchasing an additional 148 shares during the last quarter. Hemington Wealth Management raised its stake in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Smithfield Trust Co acquired a new stake in shares of Robinhood Markets during the second quarter worth about $29,000. Pandora Wealth Inc. purchased a new stake in Robinhood Markets in the first quarter valued at approximately $33,000. Finally, V Square Quantitative Management LLC purchased a new stake in Robinhood Markets in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Down 4.1%

Shares of NASDAQ HOOD opened at $123.24 on Tuesday. The firm has a market cap of $110.82 billion, a price-to-earnings ratio of 51.14, a price-to-earnings-growth ratio of 2.89 and a beta of 2.42. The company’s 50-day simple moving average is $132.67 and its 200-day simple moving average is $108.13. Robinhood Markets, Inc. has a 52-week low of $29.66 and a 52-week high of $153.86.

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 the consensus estimate of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. The company’s revenue for the quarter was up 100.0% on a year-over-year basis. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on HOOD shares. The Goldman Sachs Group lifted their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Citizens Jmp lifted their price objective on Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. Cantor Fitzgerald upped their target price on Robinhood Markets from $130.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Morgan Stanley lifted their price target on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods boosted their price target on Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Fourteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.95.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 1,330,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $128.47, for a total value of $170,865,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares in the company, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 4,020,272 shares of company stock worth $511,809,493 over the last three months. 14.47% of the stock is owned by insiders.

Robinhood Markets Company 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.