Concentric Capital Strategies LP Has $7.64 Million Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Concentric Capital Strategies LP raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 214.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 326,374 shares of the company’s stock after acquiring an additional 222,738 shares during the quarter. Concentric Capital Strategies LP’s holdings in Robinhood Markets were worth $7,644,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. HM Payson & Co. grew its holdings in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the last quarter. True Wealth Design LLC purchased a new stake in Robinhood Markets in the 3rd quarter valued at $30,000. Eastern Bank purchased a new position in Robinhood Markets in the third quarter worth $30,000. ORG Wealth Partners LLC bought a new position in Robinhood Markets during the third quarter valued at $33,000. Finally, ORG Partners LLC bought a new stake in Robinhood Markets during the 2nd quarter valued at $33,000. 93.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on HOOD. JMP Securities increased their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barclays increased their target price on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods reduced their price target on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group lowered their price target on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 108,964 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $24.92, for a total transaction of $2,715,382.88. Following the sale, the director now directly owns 2,521 shares of the company’s stock, valued at $62,823.32. The trade was a 97.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meyer Malka sold 105,875 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $3,176,250.00. Following the completion of the transaction, the director now directly owns 28,930,243 shares of the company’s stock, valued at approximately $867,907,290. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,685,549 shares of company stock valued at $114,953,194. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $37.54 on Monday. The firm has a market cap of $33.18 billion, a price-to-earnings ratio of 63.63, a price-to-earnings-growth ratio of 0.87 and a beta of 1.84. The firm has a 50-day moving average price of $28.43 and a two-hundred day moving average price of $23.67. Robinhood Markets, Inc. has a 52 week low of $8.69 and a 52 week high of $39.74.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Robinhood Markets’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.74 earnings per share for the current year.

Robinhood Markets 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.