Catalyst Funds Management Pty Ltd Purchases Shares of 13,100 Robinhood Markets, Inc. $HOOD

Catalyst Funds Management Pty Ltd acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, Holdings Channel reports. The fund acquired 13,100 shares of the company’s stock, valued at approximately $1,227,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. increased its position in Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after purchasing an additional 148 shares during the last quarter. Hemington Wealth Management grew its stake in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after buying an additional 218 shares in the last quarter. Smithfield Trust Co bought a new stake in shares of Robinhood Markets in the 2nd quarter worth about $29,000. Pandora Wealth Inc. purchased a new stake in shares of Robinhood Markets during the 1st quarter valued at about $33,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Robinhood Markets in the 2nd quarter valued at about $36,000. 93.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on HOOD. Cantor Fitzgerald boosted their price objective on Robinhood Markets from $130.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. JMP Securities boosted their target price on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research report on Thursday, October 9th. Bank of America increased their price target on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Dbs Bank raised shares of Robinhood Markets to a “moderate buy” rating in a research note on Wednesday, November 12th. Finally, Mizuho increased their target price on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Fourteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.95.

Robinhood Markets Stock Up 3.4%

HOOD stock opened at $118.16 on Thursday. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The firm has a market cap of $106.25 billion, a price-to-earnings ratio of 49.03, a PEG ratio of 2.57 and a beta of 2.42. The business’s fifty day simple moving average is $132.71 and its two-hundred day simple moving average is $104.20.

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

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the transaction, the insider owned 94,454 shares of the company’s stock, valued at $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the transaction, the director owned 3,976,234 shares in the company, valued at $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,134,080 shares of company stock valued at $626,549,514 over the last 90 days. 14.47% of the stock is currently owned by insiders.

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.