Paradiem LLC Acquires Shares of 8,895 Robinhood Markets, Inc. $HOOD

Paradiem LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,895 shares of the company’s stock, valued at approximately $1,274,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CogentBlue Wealth Advisors LLC lifted its position in Robinhood Markets by 3.8% in the third quarter. CogentBlue Wealth Advisors LLC now owns 2,391 shares of the company’s stock valued at $342,000 after purchasing an additional 87 shares during the period. Wedmont Private Capital raised its stake in shares of Robinhood Markets by 0.4% during the 3rd quarter. Wedmont Private Capital now owns 25,319 shares of the company’s stock worth $3,671,000 after buying an additional 113 shares in the last quarter. True Vision MN LLC raised its stake in shares of Robinhood Markets by 1.7% during the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock worth $642,000 after buying an additional 116 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Robinhood Markets by 5.4% in the 3rd quarter. 180 Wealth Advisors LLC now owns 2,515 shares of the company’s stock valued at $360,000 after buying an additional 129 shares during the period. Finally, Forum Financial Management LP boosted its stake in shares of Robinhood Markets by 0.8% in the second quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock valued at $1,685,000 after buying an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Robinhood Markets in a research report on Monday, December 22nd. Zacks Research upgraded shares of Robinhood Markets from a “hold” rating to a “strong-buy” rating in a report on Friday, November 28th. Citigroup raised their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Bank of America dropped their target price on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Finally, Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average target price of $137.30.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 1,330,000 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $128.47, for a total transaction of $170,865,100.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $132.13, for a total transaction of $15,855,600.00. Following the completion of the sale, the insider directly owned 430,012 shares in the company, valued at $56,817,485.56. This represents a 21.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 3,686,763 shares of company stock valued at $475,848,059. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $118.13 on Friday. The stock has a market cap of $106.22 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 2.16 and a beta of 2.43. The business’s fifty day moving average price is $127.79 and its two-hundred day moving average price is $115.48. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share 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 during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $0.17 EPS. Robinhood Markets’s revenue was up 100.0% on a year-over-year basis. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal 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.