Q Fund Management Hong Kong Ltd Buys Shares of 216,700 Robinhood Markets, Inc. $HOOD

Q Fund Management Hong Kong Ltd purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, HoldingsChannel reports. The firm purchased 216,700 shares of the company’s stock, valued at approximately $20,290,000. Robinhood Markets accounts for about 11.2% of Q Fund Management Hong Kong Ltd’s portfolio, making the stock its biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HOOD. Resolute Capital Asset Partners LLC acquired a new stake in shares of Robinhood Markets during the second quarter worth $5,113,000. Gerber Kawasaki Wealth & Investment Management acquired a new position in Robinhood Markets in the second quarter valued at $276,000. SVB Wealth LLC bought a new stake in Robinhood Markets during the second quarter valued at $673,000. L2 Asset Management LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth about $318,000. Finally, WINTON GROUP Ltd grew its holdings in Robinhood Markets by 396.0% during the 2nd quarter. WINTON GROUP Ltd now owns 35,419 shares of the company’s stock worth $3,316,000 after acquiring an additional 28,278 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $136.43 on Tuesday. Robinhood Markets, Inc. has a 52-week low of $29.66 and a 52-week high of $153.86. The business’s 50 day simple moving average is $133.29 and its two-hundred day simple moving average is $110.57. The firm has a market cap of $122.68 billion, a P/E ratio of 56.61, a PEG ratio of 2.97 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. Robinhood Markets’s revenue for the quarter was up 100.0% on a year-over-year basis. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Dbs Bank raised Robinhood Markets to a “moderate buy” rating in a research report on Wednesday, November 12th. JMP Securities raised their target price on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Piper Sandler reiterated an “overweight” rating on shares of Robinhood Markets in a report on Wednesday, November 26th. Bank of America boosted their price target on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Keefe, Bruyette & Woods increased their price target on Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $136.95.

Insider Buying and Selling at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $132.13, for a total value of $15,855,600.00. Following the sale, the insider owned 430,012 shares in the company, valued at $56,817,485.56. This represents a 21.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 1,330,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $128.47, for a total transaction of $170,865,100.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,099,236 shares of company stock valued at $525,040,481 over the last ninety days. 19.95% of the stock is currently owned by corporate insiders.

About Robinhood Markets

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.