Central Pacific Bank Trust Division Takes $714,000 Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Central Pacific Bank Trust Division purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 30,489 shares of the company’s stock, valued at approximately $714,000.

A number of other institutional investors have also recently made changes to their positions in HOOD. Centaurus Financial Inc. purchased a new stake in Robinhood Markets during the 2nd quarter worth about $200,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Robinhood Markets in the 2nd quarter worth about $2,271,000. Sanctuary Advisors LLC bought a new position in Robinhood Markets in the 2nd quarter worth about $996,000. Maven Securities LTD bought a new position in shares of Robinhood Markets during the 2nd quarter valued at about $286,000. Finally, Dana Investment Advisors Inc. increased its position in shares of Robinhood Markets by 16.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 13,556 shares of the company’s stock valued at $308,000 after purchasing an additional 1,938 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Baiju Bhatt sold 120,236 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $22.20, for a total value of $2,669,239.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The disclosure for this sale can be found here. Insiders have sold 964,889 shares of company stock worth $18,239,315 over the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Analysts Set New Price Targets

HOOD has been the topic of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Bank of America increased their price objective on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. The Goldman Sachs Group increased their price objective on Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods dropped their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Finally, Citigroup raised their target price on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.63.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $22.43 on Friday. The company has a market capitalization of $19.71 billion, a PE ratio of 149.53 and a beta of 1.84. The business’s fifty day moving average is $20.50 and its 200 day moving average is $20.30. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. Robinhood Markets’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.76 EPS for the current year.

Robinhood Markets 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.