Brevan Howard Capital Management LP Purchases Shares of 362,988 Robinhood Markets, Inc. $HOOD

by · The Markets Daily

Brevan Howard Capital Management LP purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 362,988 shares of the company’s stock, valued at approximately $33,987,000. Robinhood Markets makes up about 0.2% of Brevan Howard Capital Management LP’s holdings, making the stock its 29th biggest position.

Several other hedge funds also recently modified their holdings of HOOD. Hantz Financial Services Inc. raised its holdings in 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 acquiring an additional 148 shares in the last quarter. Smithfield Trust Co bought a new stake in shares of Robinhood Markets during the 2nd quarter worth approximately $29,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at approximately $34,000. V Square Quantitative Management LLC bought a new position in shares of Robinhood Markets in the second quarter valued at $36,000. Finally, Colonial Trust Advisors increased its holdings in Robinhood Markets by 125.0% during the first quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Down 3.1%

Shares of NASDAQ:HOOD opened at $119.50 on Friday. Robinhood Markets, Inc. has a 12-month low of $29.66 and a 12-month high of $153.86. The business has a 50 day moving average of $132.04 and a 200-day moving average of $111.72. The stock has a market cap of $107.45 billion, a PE ratio of 49.59, a P/E/G ratio of 2.48 and a beta of 2.43.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JMP Securities increased their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Citizens Jmp raised their target price on shares of Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. Bank of America lowered their price target on Robinhood Markets from $166.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday. Mizuho raised their price objective on Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Zacks Research raised Robinhood Markets from a “hold” rating to a “strong-buy” rating in a report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $136.32.

View Our Latest Stock Report on HOOD

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $116.56, for a total value of $48,761,477.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $132.26, for a total transaction of $775,704.90. Following the completion of the sale, the chief technology officer directly owned 26,725 shares of the company’s stock, valued at $3,534,648.50. This represents a 18.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,686,763 shares of company stock worth $475,858,262 over the last ninety days. Corporate insiders own 14.47% of the company’s stock.

About Robinhood Markets

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report).