Victory Capital Management Inc. Buys 54,046 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Victory Capital Management Inc. increased its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 85.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,383 shares of the company’s stock after acquiring an additional 54,046 shares during the quarter. Victory Capital Management Inc.’s holdings in Robinhood Markets were worth $2,749,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HOOD. HM Payson & Co. increased its stake in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares in the last quarter. Eastern Bank bought a new stake in shares of Robinhood Markets in the 3rd quarter valued at $30,000. ORG Partners LLC bought a new stake in shares of Robinhood Markets in the 2nd quarter valued at $33,000. ORG Wealth Partners LLC bought a new stake in shares of Robinhood Markets in the 3rd quarter valued at $33,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Robinhood Markets in the 2nd quarter valued at $40,000. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

HOOD has been the topic of several research reports. Citigroup upped their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Bank of America upped their target price on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Barclays lifted their price target on Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price objective on Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, KeyCorp raised their target price on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $28.66.

Robinhood Markets Trading Up 4.4 %

Shares of Robinhood Markets stock opened at $36.65 on Friday. The business’s fifty day simple moving average is $26.96 and its 200 day simple moving average is $22.96. The firm has a market capitalization of $32.40 billion, a P/E ratio of 62.12, a price-to-earnings-growth ratio of 0.82 and a beta of 1.84. Robinhood Markets, Inc. has a 12 month low of $8.13 and a 12 month high of $38.11.

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

Insider Buying and Selling

In other Robinhood Markets news, Director Meyer Malka sold 105,875 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $3,176,250.00. Following the sale, the director now directly owns 28,930,243 shares in the company, valued at $867,907,290. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 4,710,549 shares of company stock worth $115,477,194. 19.95% of the stock is owned by company insiders.

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.