86,539 Shares in Robinhood Markets, Inc. $HOOD Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, HoldingsChannel reports. The firm bought 86,539 shares of the company’s stock, valued at approximately $8,103,000.

Other hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. grew its position in Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after purchasing an additional 148 shares in the last quarter. Hemington Wealth Management boosted its stake 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. Smithfield Trust Co purchased a new position in shares of Robinhood Markets during the 2nd quarter valued at $29,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets in the first quarter worth $33,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Robinhood Markets in the second quarter worth $36,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 1,330,000 shares of Robinhood Markets stock in a transaction on Friday, November 7th. The shares were sold at an average price of $128.47, for a total value of $170,865,100.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, the insider owned 94,454 shares of the company’s stock, valued at $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,297,404 shares of company stock worth $529,026,559 in the last ninety days. 14.47% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Robinhood Markets in a research report on Thursday. JMP Securities raised their price target on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Dbs Bank raised Robinhood Markets to a “moderate buy” rating in a research note on Wednesday, November 12th. Mizuho raised their price objective on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Needham & Company LLC lifted their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $132.65.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $122.50 on Monday. The stock’s 50 day simple moving average is $132.81 and its 200 day simple moving average is $103.15. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The company has a market capitalization of $110.15 billion, a price-to-earnings ratio of 50.83, a PEG ratio of 2.80 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the business earned $0.17 earnings per share. The company’s revenue was up 100.0% on a year-over-year basis. On average, analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Robinhood Markets Company 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.