Duality Advisers LP Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Duality Advisers LP acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 167,122 shares of the company’s stock, valued at approximately $3,364,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Seven Eight Capital LP bought a new stake in shares of Robinhood Markets in the third quarter worth about $131,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Robinhood Markets by 92.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 794,599 shares of the company’s stock worth $7,795,000 after acquiring an additional 381,333 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Robinhood Markets by 81.4% in the third quarter. Citigroup Inc. now owns 428,102 shares of the company’s stock worth $4,200,000 after acquiring an additional 192,083 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Robinhood Markets by 4.5% in the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock worth $561,732,000 after acquiring an additional 2,459,702 shares in the last quarter. Finally, Renaissance Capital LLC grew its holdings in shares of Robinhood Markets by 27.9% during the fourth quarter. Renaissance Capital LLC now owns 429,386 shares of the company’s stock worth $5,470,000 after buying an additional 93,707 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. KeyCorp lifted their target price on Robinhood Markets from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. The Goldman Sachs Group lifted their target price on Robinhood Markets from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday. Bank of America raised Robinhood Markets from an “underperform” rating to a “buy” rating and lifted their target price for the company from $14.00 to $24.00 in a research report on Friday, May 17th. Citigroup lifted their target price on Robinhood Markets from $16.00 to $18.00 and gave the company a “sell” rating in a research report on Thursday, June 13th. Finally, Keefe, Bruyette & Woods started coverage on Robinhood Markets in a research report on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Hold” and an average price target of $21.10.

Robinhood Markets Price Performance

HOOD traded up $0.25 during trading on Friday, hitting $22.29. The stock had a trading volume of 7,468,686 shares, compared to its average volume of 15,964,424. The company has a 50 day moving average price of $21.03 and a 200-day moving average price of $17.06. The firm has a market cap of $19.59 billion, a price-to-earnings ratio of 147.40 and a beta of 1.84. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $24.28.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.13. The business had revenue of $618.00 million during the quarter, compared to the consensus estimate of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The firm’s quarterly revenue was up 40.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.57) EPS. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 0.57 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 25,049 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $17.04, for a total value of $426,834.96. Following the completion of the sale, the chief executive officer now directly owns 32,584 shares in the company, valued at approximately $555,231.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Robinhood Markets news, CEO Vladimir Tenev sold 25,049 shares of Robinhood Markets stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $17.04, for a total value of $426,834.96. Following the completion of the transaction, the chief executive officer now directly owns 32,584 shares of the company’s stock, valued at approximately $555,231.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 16,667 shares of Robinhood Markets stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $17.16, for a total value of $286,005.72. Following the completion of the transaction, the director now directly owns 36,045 shares of the company’s stock, valued at $618,532.20. The disclosure for this sale can be found here. Insiders sold 1,494,233 shares of company stock worth $29,762,641 in the last ninety days. 19.95% of the stock is owned by company insiders.

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.