CenterBook Partners LP Invests $19.78 Million in Robinhood Markets, Inc. $HOOD

CenterBook Partners LP bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 211,214 shares of the company’s stock, valued at approximately $19,776,000. Robinhood Markets accounts for 1.1% of CenterBook Partners LP’s holdings, making the stock its 15th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its position in shares of Robinhood Markets by 120.3% during 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 in the last quarter. Smithfield Trust Co purchased a new stake in Robinhood Markets during the 2nd quarter worth $29,000. V Square Quantitative Management LLC purchased a new stake in Robinhood Markets during the 2nd quarter worth $36,000. LGT Financial Advisors LLC purchased a new position in Robinhood Markets in the 2nd quarter valued at about $37,000. Finally, Atlantic Union Bankshares Corp purchased a new position in Robinhood Markets in the 2nd quarter valued at about $37,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

Shares of HOOD opened at $107.30 on Friday. The stock has a market capitalization of $96.48 billion, a PE ratio of 44.52, a price-to-earnings-growth ratio of 2.39 and a beta of 2.42. The business’s fifty day moving average price is $132.32 and its 200 day moving average price is $104.62. Robinhood Markets, Inc. has a 12-month low of $29.66 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was up 100.0% compared to the same quarter last year. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on HOOD shares. Citizens Jmp boosted their price target on Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Needham & Company LLC upped their target price on Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. CICC Research initiated coverage on Robinhood Markets in a research note on Monday, October 27th. They set an “outperform” rating and a $155.00 target price for the company. The Goldman Sachs Group lifted their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Finally, Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.95.

Insider Activity

In other news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $116.56, for a total transaction of $48,761,477.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The SEC filing for this sale provides additional information. Insiders have sold 5,134,080 shares of company stock valued at $626,549,514 over the last quarter. Corporate insiders own 14.47% of the company’s stock.

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.