Azora Capital LP Acquires New Holdings in Robinhood Markets, Inc. $HOOD

Azora Capital LP bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the second quarter, HoldingsChannel.com reports. The fund bought 108,527 shares of the company’s stock, valued at approximately $10,161,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Robinhood Markets by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company’s stock worth $7,079,564,000 after buying an additional 1,371,051 shares during the last quarter. State Street Corp increased its position in Robinhood Markets by 9.2% during the second quarter. State Street Corp now owns 15,870,421 shares of the company’s stock valued at $1,485,948,000 after acquiring an additional 1,341,204 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Robinhood Markets by 4.0% in the second quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock valued at $1,233,840,000 after acquiring an additional 507,926 shares during the period. WCM Investment Management LLC lifted its holdings in Robinhood Markets by 3,615.7% in the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after acquiring an additional 11,244,182 shares during the period. Finally, Norges Bank purchased a new position in Robinhood Markets in the second quarter worth about $973,122,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citizens Jmp upped their price target on shares of Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. Mizuho boosted their target price on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. KeyCorp upped their target price on shares of Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Barclays increased their price target on shares of Robinhood Markets from $162.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $136.95.

Robinhood Markets Stock Down 0.5%

Shares of Robinhood Markets stock opened at $135.71 on Wednesday. The company has a market capitalization of $122.03 billion, a price-to-earnings ratio of 56.31, a PEG ratio of 3.07 and a beta of 2.43. The stock’s 50-day simple moving average is $133.14 and its 200-day simple moving average is $111.08. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the company earned $0.17 EPS. The firm’s quarterly revenue was up 100.0% on a year-over-year basis. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of Robinhood Markets stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $132.13, for a total value of $15,855,600.00. Following the sale, the insider directly owned 430,012 shares in the company, valued at approximately $56,817,485.56. The trade was a 21.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $116.56, for a total transaction of $48,761,477.28. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 3,686,763 shares of company stock worth $475,858,262. 19.95% 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.