Philadelphia Financial Management of San Francisco LLC Acquires 215,892 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Philadelphia Financial Management of San Francisco LLC increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 47.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 668,397 shares of the company’s stock after purchasing an additional 215,892 shares during the quarter. Robinhood Markets accounts for 2.5% of Philadelphia Financial Management of San Francisco LLC’s portfolio, making the stock its 13th biggest holding. Philadelphia Financial Management of San Francisco LLC owned about 0.08% of Robinhood Markets worth $15,654,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cetera Advisors LLC bought a new position in Robinhood Markets during the first quarter valued at approximately $606,000. GAMMA Investing LLC lifted its holdings in shares of Robinhood Markets by 44.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after buying an additional 710 shares during the period. DNB Asset Management AS boosted its stake in shares of Robinhood Markets by 39.7% in the 2nd quarter. DNB Asset Management AS now owns 85,114 shares of the company’s stock worth $1,933,000 after buying an additional 24,208 shares during the last quarter. CWM LLC grew its holdings in shares of Robinhood Markets by 120.7% in the second quarter. CWM LLC now owns 23,222 shares of the company’s stock worth $527,000 after acquiring an additional 12,701 shares during the period. Finally, Renaissance Capital LLC increased its position in Robinhood Markets by 43.4% during the second quarter. Renaissance Capital LLC now owns 596,736 shares of the company’s stock valued at $13,552,000 after acquiring an additional 180,583 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 2.7 %

NASDAQ HOOD opened at $38.64 on Wednesday. Robinhood Markets, Inc. has a 12 month low of $9.33 and a 12 month high of $39.74. The stock has a market cap of $34.16 billion, a PE ratio of 65.49, a P/E/G ratio of 0.87 and a beta of 2.09. The stock’s 50 day moving average is $28.73 and its 200 day moving average is $23.84.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Robinhood Markets’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) EPS. On average, analysts forecast that Robinhood Markets, Inc. will post 0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HOOD shares. The Goldman Sachs Group boosted their price target on Robinhood Markets from $25.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a report on Monday, November 11th. Morgan Stanley upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $24.00 to $55.00 in a research note on Monday, November 25th. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Finally, Piper Sandler lifted their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.60.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 139,916 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total transaction of $545,522.06. Following the transaction, the insider now owns 1,070,000 shares of the company’s stock, valued at $25,059,400. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,442,910 shares of company stock valued at $110,642,151 in the last 90 days. Insiders own 19.95% of the company’s stock.

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.