Value Star Asset Management Hong Kong Ltd Acquires New Position in Robinhood Markets, Inc. $HOOD

Value Star Asset Management Hong Kong Ltd acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,000 shares of the company’s stock, valued at approximately $2,148,000. Robinhood Markets accounts for 4.4% of Value Star Asset Management Hong Kong Ltd’s portfolio, making the stock its 9th biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Robinhood Markets by 24.9% during the 3rd quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock valued at $13,521,497,000 after purchasing an additional 18,824,923 shares during the period. Norges Bank bought a new stake in shares of Robinhood Markets in the 2nd quarter worth $973,122,000. Paradigm Operations LP acquired a new stake in Robinhood Markets during the second quarter valued at approximately $308,979,000. Jennison Associates LLC purchased a new stake in shares of Robinhood Markets during the third quarter valued at $322,823,000. Finally, Invesco Ltd. boosted its stake in Robinhood Markets by 81.0% in the 2nd quarter. Invesco Ltd. now owns 4,942,533 shares of the company’s stock worth $462,769,000 after purchasing an additional 2,212,487 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

Robinhood Markets stock traded up $1.89 during trading hours on Friday, reaching $77.54. 3,654,909 shares of the company’s stock traded hands, compared to its average volume of 30,343,191. The firm has a market capitalization of $69.72 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 1.27 and a beta of 2.43. Robinhood Markets, Inc. has a fifty-two week low of $29.66 and a fifty-two week high of $153.86. The firm’s 50 day moving average is $104.32 and its 200-day moving average is $117.37.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Robinhood Markets had a net margin of 42.10% and a return on equity of 22.32%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. Robinhood Markets’s revenue for the quarter was up 26.5% compared to the same quarter last year. Analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Dbs Bank raised shares of Robinhood Markets to a “moderate buy” rating in a research note on Wednesday, November 12th. Truist Financial lowered their price target on Robinhood Markets from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Robinhood Markets in a research report on Wednesday, February 11th. Morgan Stanley upped their price target on Robinhood Markets from $146.00 to $147.00 and gave the company an “equal weight” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Robinhood Markets in a research note on Monday, December 22nd. Seventeen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $121.71.

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $132.13, for a total transaction of $15,855,600.00. Following the completion of the transaction, the insider directly owned 430,012 shares in the company, valued at approximately $56,817,485.56. The trade was a 21.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 375,000 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $121.63, for a total transaction of $45,611,250.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 706,413 shares of company stock valued at $85,161,009 over the last 90 days. Company insiders own 14.47% of the company’s stock.

Robinhood Markets Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.