Counterpoint Mutual Funds LLC Acquires New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Counterpoint Mutual Funds LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 33,117 shares of the company’s stock, valued at approximately $667,000. Robinhood Markets accounts for 0.2% of Counterpoint Mutual Funds LLC’s investment portfolio, making the stock its 27th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Robinhood Markets by 4.5% in the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after purchasing an additional 2,459,702 shares during the period. ARK Investment Management LLC grew its holdings in shares of Robinhood Markets by 6.4% during the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock worth $445,087,000 after buying an additional 2,101,325 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Robinhood Markets by 9.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock worth $372,081,000 after buying an additional 2,517,012 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Robinhood Markets by 9.6% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock worth $360,514,000 after buying an additional 2,486,986 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Robinhood Markets during the fourth quarter worth about $84,165,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 16,667 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $17.16, for a total transaction of $286,005.72. Following the completion of the sale, the director now owns 36,045 shares in the company, valued at $618,532.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Robinhood Markets news, Director Baiju Bhatt sold 16,667 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $17.16, for a total transaction of $286,005.72. Following the completion of the sale, the director now owns 36,045 shares in the company, valued at $618,532.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $18.67, for a total transaction of $4,667,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,486,733 shares of company stock worth $28,618,091. Insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD traded up $0.17 during midday trading on Wednesday, reaching $22.31. The company had a trading volume of 19,121,195 shares, compared to its average volume of 16,479,523. The stock’s fifty day moving average price is $19.74 and its 200-day moving average price is $16.26. The stock has a market capitalization of $19.61 billion, a P/E ratio of 150.53 and a beta of 1.83. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $24.28.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. The business had revenue of $618.00 million during the quarter, compared to analyst estimates of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The business’s revenue was up 40.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.57) earnings per share. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.56 earnings per share for the current year.

Analysts Set New Price Targets

HOOD has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Robinhood Markets from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Barclays boosted their target price on shares of Robinhood Markets from $16.00 to $18.00 and gave the company an “underweight” rating in a report on Thursday, May 9th. Citigroup boosted their target price on shares of Robinhood Markets from $16.00 to $18.00 and gave the company a “sell” rating in a report on Thursday, June 13th. Morgan Stanley boosted their target price on shares of Robinhood Markets from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a report on Thursday, June 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.77.

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.