Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Acquired by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,301 shares of the company’s stock after acquiring an additional 1,812 shares during the period. Central Pacific Bank Trust Division’s holdings in Robinhood Markets were worth $1,204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Everence Capital Management Inc. acquired a new position in shares of Robinhood Markets in the 4th quarter worth $634,000. GAMMA Investing LLC grew its stake in Robinhood Markets by 49.3% in the fourth quarter. GAMMA Investing LLC now owns 5,858 shares of the company’s stock valued at $218,000 after purchasing an additional 1,935 shares in the last quarter. Versant Capital Management Inc increased its holdings in Robinhood Markets by 6,799.1% in the fourth quarter. Versant Capital Management Inc now owns 22,974 shares of the company’s stock worth $856,000 after buying an additional 22,641 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in shares of Robinhood Markets during the 3rd quarter worth $263,000. Finally, Franklin Resources Inc. bought a new position in Robinhood Markets during the third quarter valued at about $6,321,000. 93.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Steven M. Quirk sold 208,291 shares of Robinhood Markets stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.98, for a total value of $5,203,109.18. Following the completion of the sale, the insider now owns 346,020 shares of the company’s stock, valued at approximately $8,643,579.60. This trade represents a 37.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Meyer Malka sold 3,225,806 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the transaction, the director now owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. The trade was a 9.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,057,772 shares of company stock worth $182,023,158 in the last three months. Company insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HOOD shares. JMP Securities upped their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Sanford C. Bernstein boosted their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. boosted their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Finally, KeyCorp raised their target price on Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $39.20.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock traded up $1.29 on Friday, hitting $40.73. 12,679,241 shares of the company’s stock traded hands, compared to its average volume of 15,605,646. The company has a fifty day moving average of $35.24 and a two-hundred day moving average of $26.62. Robinhood Markets, Inc. has a one year low of $10.38 and a one year high of $43.83. The company has a market capitalization of $36.00 billion, a price-to-earnings ratio of 69.04, a price-to-earnings-growth ratio of 0.81 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm’s revenue was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) EPS. Equities research analysts anticipate that Robinhood Markets, Inc. will post 0.8 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.