Caitong International Asset Management Co. Ltd Reduces Stock Holdings in Robinhood Markets, Inc. $HOOD

Caitong International Asset Management Co. Ltd reduced its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 98.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 307 shares of the company’s stock after selling 18,894 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Robinhood Markets were worth $29,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hemington Wealth Management raised its holdings in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Robinhood Markets during the 1st quarter valued at about $30,000. Pandora Wealth Inc. purchased a new stake in shares of Robinhood Markets during the 1st quarter valued at about $33,000. V Square Quantitative Management LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter valued at about $36,000. Finally, Colonial Trust Advisors raised its holdings in shares of Robinhood Markets by 125.0% during the 1st quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Steven M. Quirk sold 60,113 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the completion of the transaction, the insider owned 94,454 shares in the company, valued at $9,531,353.14. The trade was a 38.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $133.11, for a total value of $55,684,971.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,175,598 shares of company stock worth $579,779,430. Corporate insiders own 19.95% of the company’s stock.

Analysts Set New Price Targets

HOOD has been the topic of several analyst reports. Bank of America raised their target price on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Keefe, Bruyette & Woods lifted their price objective on Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, July 31st. The Goldman Sachs Group lifted their price objective on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. KeyCorp lifted their price objective on Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Finally, JMP Securities lifted their price objective on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a report on Thursday, October 9th. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.94.

Robinhood Markets Trading Up 4.1%

Shares of NASDAQ HOOD opened at $139.79 on Monday. Robinhood Markets, Inc. has a twelve month low of $23.00 and a twelve month high of $153.86. The company has a market capitalization of $124.23 billion, a price-to-earnings ratio of 70.96, a price-to-earnings-growth ratio of 3.63 and a beta of 2.42. The business has a 50 day simple moving average of $123.41 and a 200-day simple moving average of $93.05.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same period in the previous year, the business earned $0.21 EPS. The business’s quarterly revenue was up 45.0% on a year-over-year basis. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share 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.