Counterpoint Mutual Funds LLC Boosts Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Counterpoint Mutual Funds LLC raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 286.5% in the 4th quarter, Holdings Channel reports. The firm owned 36,279 shares of the company’s stock after buying an additional 26,893 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Robinhood Markets were worth $1,352,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in Robinhood Markets by 85.3% during the third quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock worth $2,749,000 after buying an additional 54,046 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Robinhood Markets by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 21,731 shares of the company’s stock valued at $509,000 after acquiring an additional 724 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Robinhood Markets by 44.0% during the third quarter. Natixis Advisors LLC now owns 33,980 shares of the company’s stock worth $796,000 after purchasing an additional 10,376 shares in the last quarter. Quest Partners LLC increased its position in shares of Robinhood Markets by 1,008.4% in the third quarter. Quest Partners LLC now owns 15,086 shares of the company’s stock worth $353,000 after purchasing an additional 13,725 shares during the last quarter. Finally, GLOBALT Investments LLC GA lifted its position in Robinhood Markets by 2.3% during the third quarter. GLOBALT Investments LLC GA now owns 56,162 shares of the company’s stock valued at $1,315,000 after purchasing an additional 1,262 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the transaction, the insider now directly owns 806,955 shares in the company, valued at $30,268,882.05. This trade represents a 27.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,985,127 shares of company stock valued at $142,455,378. Company insiders own 19.95% of the company’s stock.

Analyst Ratings Changes

HOOD has been the topic of a number of research analyst reports. KeyCorp increased their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods raised their price target on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Sanford C. Bernstein lifted their price target on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Needham & Company LLC increased their price objective on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Piper Sandler boosted their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.31.

Robinhood Markets Stock Up 8.9 %

Shares of Robinhood Markets stock opened at $39.24 on Monday. The company’s fifty day simple moving average is $48.88 and its two-hundred day simple moving average is $36.61. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The firm has a market cap of $34.75 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.