Y Intercept Hong Kong Ltd Buys 19,639 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Y Intercept Hong Kong Ltd grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 23.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,545 shares of the company’s stock after buying an additional 19,639 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Robinhood Markets were worth $3,858,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HOOD. Creative Planning increased its position in shares of Robinhood Markets by 34.6% during the third quarter. Creative Planning now owns 35,384 shares of the company’s stock valued at $829,000 after buying an additional 9,094 shares during the period. Raymond James & Associates increased its position in shares of Robinhood Markets by 76.6% during the third quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock valued at $2,325,000 after buying an additional 43,075 shares during the period. Signaturefd LLC increased its position in shares of Robinhood Markets by 16.5% during the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after buying an additional 487 shares during the period. Eastern Bank bought a new position in shares of Robinhood Markets in the third quarter worth approximately $30,000. Finally, Private Advisor Group LLC increased its position in shares of Robinhood Markets by 3.2% in the third quarter. Private Advisor Group LLC now owns 84,777 shares of the company’s stock worth $1,985,000 after purchasing an additional 2,644 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Meyer Malka sold 1,535,681 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the sale, the director now directly owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,520,607 shares of company stock valued at $200,784,430. 19.95% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HOOD shares. Sanford C. Bernstein upped their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Piper Sandler upped their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.53.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $51.60 on Monday. The firm has a market cap of $45.61 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. Robinhood Markets, Inc. has a fifty-two week low of $13.59 and a fifty-two week high of $66.91. The business has a 50 day moving average price of $47.42 and a 200-day moving average price of $34.03.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.