Cookson Peirce & Co. Inc. Boosts Position in Robinhood Markets, Inc. $HOOD

Cookson Peirce & Co. Inc. boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 512.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 473,493 shares of the company’s stock after acquiring an additional 396,130 shares during the period. Robinhood Markets comprises approximately 2.0% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 12th largest position. Cookson Peirce & Co. Inc.’s holdings in Robinhood Markets were worth $44,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the last quarter. WCM Investment Management LLC raised its stake in shares of Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after purchasing an additional 11,244,182 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Robinhood Markets in the second quarter worth $951,479,000. AGF Management Ltd. raised its position in Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after acquiring an additional 4,255,862 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Robinhood Markets by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock worth $201,913,000 after acquiring an additional 131,620 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 1,568,421 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $99.98, for a total transaction of $156,810,731.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total value of $113,559,824.56. Following the sale, the director owned 3,976,234 shares of the company’s stock, valued at approximately $413,011,425.58. The trade was a 21.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,181,462 shares of company stock worth $567,328,871. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $131.84 on Wednesday. Robinhood Markets, Inc. has a 1 year low of $23.00 and a 1 year high of $153.86. The stock has a fifty day moving average of $122.06 and a two-hundred day moving average of $90.63. The firm has a market capitalization of $117.16 billion, a PE ratio of 66.92, a price-to-earnings-growth ratio of 3.59 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The company’s revenue was up 45.0% on a year-over-year basis. Equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several research reports. Barclays upped their target price on Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Morgan Stanley lifted their price target on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. Cantor Fitzgerald lifted their price target on Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Mizuho lifted their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, September 10th. Finally, JMP Securities raised their target price on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.94.

Robinhood Markets Company Profile

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.