Connective Portfolio Management LLC Takes Position in Robinhood Markets, Inc. $HOOD

Connective Portfolio Management LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 12,000 shares of the company’s stock, valued at approximately $1,641,000. Robinhood Markets makes up about 2.9% of Connective Portfolio Management LLC’s holdings, making the stock its 14th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP grew its position in Robinhood Markets by 3.1% during the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock valued at $677,000 after buying an additional 486 shares during the period. Metavasi Capital LP grew its position in shares of Robinhood Markets by 275.0% during the 1st quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock valued at $3,122,000 after acquiring an additional 55,000 shares during the period. Venture Visionary Partners LLC grew its position in shares of Robinhood Markets by 63.0% during the 2nd quarter. Venture Visionary Partners LLC now owns 125,420 shares of the company’s stock valued at $11,743,000 after acquiring an additional 48,494 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Robinhood Markets by 114.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 369,900 shares of the company’s stock worth $15,395,000 after purchasing an additional 197,673 shares during the last quarter. Finally, EJF Capital LLC bought a new stake in shares of Robinhood Markets in the 1st quarter worth approximately $416,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $122.39, for a total value of $717,694.96. Following the completion of the transaction, the chief technology officer directly owned 20,861 shares of the company’s stock, valued at $2,553,177.79. This trade represents a 21.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction on Monday, November 17th. The shares were 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. Over the last 90 days, insiders have sold 3,686,763 shares of company stock valued at $475,848,059. 14.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on HOOD shares. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research report on Wednesday, November 26th. KeyCorp increased their price target on Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Truist Financial began coverage on Robinhood Markets in a research note on Wednesday, December 17th. They issued a “buy” rating and a $155.00 price objective on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Finally, Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.30.

Robinhood Markets Stock Down 1.9%

Shares of NASDAQ HOOD opened at $118.13 on Friday. The company has a market cap of $106.22 billion, a P/E ratio of 49.02, a P/E/G ratio of 2.20 and a beta of 2.43. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86. The business has a 50-day simple moving average of $127.79 and a two-hundred day simple moving average of $115.18.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm posted $0.17 earnings per share. 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 year.

Robinhood Markets Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.