Headlands Technologies LLC Purchases New Shares in Robinhood Markets, Inc. (NASDAQ:HOOD)

Headlands Technologies LLC acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 198,481 shares of the company’s stock, valued at approximately $4,508,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after buying an additional 1,003,535 shares in the last quarter. Banque Cantonale Vaudoise boosted its position in shares of Robinhood Markets by 21,404.0% during the first quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after purchasing an additional 96,318 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in Robinhood Markets by 87.1% in the first quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock worth $117,000 after purchasing an additional 2,700 shares during the period. Wellington Management Group LLP bought a new position in Robinhood Markets in the fourth quarter worth $8,299,000. Finally, SG Americas Securities LLC lifted its position in Robinhood Markets by 62.5% during the first quarter. SG Americas Securities LLC now owns 283,684 shares of the company’s stock valued at $5,711,000 after buying an additional 109,059 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup raised shares of Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 target price on the stock in a research report on Monday, August 5th. Barclays upgraded shares of Robinhood Markets from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $18.00 to $20.00 in a report on Friday. JMP Securities restated a “market outperform” rating and issued a $30.00 price target on shares of Robinhood Markets in a research note on Thursday, August 8th. Bank of America boosted their target price on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded Robinhood Markets from a “hold” rating to a “buy” rating and raised their price target for the company from $21.00 to $24.00 in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.83.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $22.50, for a total transaction of $5,625,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Friday, July 5th. The stock was sold at an average price of $22.50, for a total transaction of $5,625,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. The disclosure for this sale can be found here. Insiders sold 1,185,406 shares of company stock valued at $23,490,554 in the last three months. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Down 3.0 %

HOOD traded down $0.59 during mid-day trading on Tuesday, reaching $19.07. 1,028,920 shares of the company traded hands, compared to its average volume of 15,766,862. The company’s fifty day moving average price is $20.68 and its 200-day moving average price is $19.63. The stock has a market capitalization of $16.87 billion, a P/E ratio of 131.07 and a beta of 1.83. Robinhood Markets, Inc. has a 52-week low of $7.91 and a 52-week high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. During the same quarter last year, the company posted $0.03 EPS. The company’s revenue was up 40.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.76 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.