Cookson Peirce & Co. Inc. Acquires 396,130 Shares of Robinhood Markets, Inc. $HOOD

Cookson Peirce & Co. Inc. lifted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 512.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 473,493 shares of the company’s stock after acquiring an additional 396,130 shares during the period. Robinhood Markets makes up 2.0% of Cookson Peirce & Co. Inc.’s holdings, making the stock its 12th biggest holding. Cookson Peirce & Co. Inc. owned 0.05% of Robinhood Markets worth $44,333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hemington Wealth Management boosted its stake in Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Robinhood Markets in the 1st quarter worth approximately $30,000. Pandora Wealth Inc. purchased a new stake in Robinhood Markets in the 1st quarter worth approximately $33,000. V Square Quantitative Management LLC bought a new position in shares of Robinhood Markets in the 2nd quarter worth $36,000. Finally, Colonial Trust Advisors increased its holdings in shares of Robinhood Markets by 125.0% in the 1st 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. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $147.53, for a total value of $865,115.92. Following the completion of the transaction, the chief technology officer directly owned 11,952 shares of the company’s stock, valued at $1,763,278.56. This trade represents a 32.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total transaction of $49,957,923.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,181,462 shares of company stock worth $567,328,871. Insiders own 19.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Needham & Company LLC increased their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. JMP Securities raised their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 9th. Barclays increased their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Piper Sandler reissued an “overweight” rating and set a $140.00 price target (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Finally, Mizuho lifted their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, September 10th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.94.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $131.84 on Wednesday. The firm has a market cap of $117.16 billion, a price-to-earnings ratio of 66.92, a P/E/G ratio of 3.59 and a beta of 2.42. The firm has a fifty day moving average price of $122.06 and a 200 day moving average price of $90.63. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business’s revenue for the quarter was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. As a group, research analysts predict that Robinhood Markets, Inc. will post 1.35 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.