Caitong International Asset Management Co. Ltd Grows Stock Position in Robinhood Markets, Inc. $HOOD

Caitong International Asset Management Co. Ltd boosted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 64,857.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 25,983 shares of the company’s stock after acquiring an additional 25,943 shares during the period. Robinhood Markets comprises approximately 0.7% of Caitong International Asset Management Co. Ltd’s investment portfolio, making the stock its 27th largest position. Caitong International Asset Management Co. Ltd’s holdings in Robinhood Markets were worth $2,939,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Robinhood Markets by 103.2% during the third quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after acquiring an additional 16,375,734 shares during the last quarter. Norges Bank bought a new position in shares of Robinhood Markets during the fourth quarter worth about $1,202,160,000. Corient Private Wealth LLC lifted its stake in Robinhood Markets by 5,221.4% during the fourth quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company’s stock worth $289,519,000 after purchasing an additional 2,511,743 shares during the last quarter. Jennison Associates LLC lifted its holdings in Robinhood Markets by 95.7% in the fourth quarter. Jennison Associates LLC now owns 4,412,036 shares of the company’s stock worth $499,001,000 after acquiring an additional 2,157,372 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Robinhood Markets by 23.9% in the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after acquiring an additional 2,061,832 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $76.89, for a total value of $768,900.00. Following the completion of the sale, the insider owned 432,849 shares in the company, valued at approximately $33,281,759.61. This represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of Robinhood Markets stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total value of $5,082,270.36. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders acquired 680,000 shares of company stock valued at $55,306,560 and sold 633,484 shares valued at $47,542,923. 14.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HOOD shares. Citizens Jmp reaffirmed a “market outperform” rating and set a $155.00 price target on shares of Robinhood Markets in a report on Thursday, May 28th. Needham & Company LLC lifted their price objective on shares of Robinhood Markets from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Zacks Research upgraded shares of Robinhood Markets from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Loop Capital set a $110.00 target price on Robinhood Markets in a report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $110.00 price target on shares of Robinhood Markets in a report on Tuesday, June 9th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.36.

Key Headlines Impacting Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Robinhood said its new “AI Trading” feature has already attracted more than 50,000 users in just weeks, with the product helping drive millions of daily interactions and reinforcing the company’s growth narrative. Robinhood Stock Spikes as AI Trading Tops 50,000 Users in Weeks
• Positive Sentiment: Shares have also been supported by record June trading volumes and analyst upgrades/raised price targets after Robinhood announced a 10% workforce reduction, which investors read as a move to improve margins and streamline operations. Stock Market Today, June 17: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
• Positive Sentiment: Momentum traders are also focused on the stock’s technical breakout potential after it outperformed the broader market and moved sharply higher on heavy volume. Stock Of The Day: Will Robinhood Break Out?
• Neutral Sentiment: Commentary on Robinhood’s valuation suggests the stock is expensive, so even with strong growth, expectations are high and any slowdown could make the shares vulnerable. 2 High-Flying Stocks Worth Your Attention and 1 We Question
• Negative Sentiment: Cathie Wood’s ARK has been trimming Robinhood holdings into the rally, which may create some short-term supply pressure and signals that not all big investors are chasing the move. Cathie Wood’s Ark Invest Sells Robinhood Stock Into 8% Rally, Loads Up On Coinbase And Block

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $108.15 on Friday. The company has a market cap of $97.39 billion, a PE ratio of 52.25, a price-to-earnings-growth ratio of 2.54 and a beta of 2.35. The firm has a fifty day moving average price of $83.43 and a two-hundred day moving average price of $91.48. Robinhood Markets, Inc. has a fifty-two week low of $63.51 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. Robinhood Markets’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. Analysts expect that Robinhood Markets, Inc. will post 1.81 earnings per share for the current fiscal year.

About Robinhood Markets

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.