Cim LLC Buys 27,230 Shares of Robinhood Markets, Inc. $HOOD

Cim LLC boosted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 49.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,911 shares of the company’s stock after buying an additional 27,230 shares during the quarter. Cim LLC’s holdings in Robinhood Markets were worth $3,409,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in HOOD. Comerica Bank grew its position in Robinhood Markets by 167.3% during the fourth quarter. Comerica Bank now owns 11,894 shares of the company’s stock valued at $443,000 after buying an additional 7,444 shares during the period. Baird Financial Group Inc. purchased a new stake in Robinhood Markets during the fourth quarter valued at about $305,000. Cetera Investment Advisers lifted its holdings in Robinhood Markets by 183.8% during the fourth quarter. Cetera Investment Advisers now owns 103,551 shares of the company’s stock valued at $3,858,000 after purchasing an additional 67,061 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its holdings in Robinhood Markets by 26.0% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 17,647 shares of the company’s stock valued at $658,000 after purchasing an additional 3,640 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. Mizuho upped their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays raised their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Citigroup raised their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Finally, KeyCorp raised their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $101.88.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares in the company, valued at $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,355,381 shares of company stock valued at $539,335,586 in the last 90 days. 14.47% of the stock is owned by company insiders.

Robinhood Markets Trading Up 0.2%

HOOD stock opened at $117.75 on Friday. The company’s 50 day moving average is $105.58 and its 200 day moving average is $72.98. The stock has a market cap of $104.64 billion, a price-to-earnings ratio of 59.77, a price-to-earnings-growth ratio of 4.30 and a beta of 2.36. Robinhood Markets, Inc. has a 1-year low of $20.67 and a 1-year high of $123.44.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million for the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 earnings per share. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS 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.