Penserra Capital Management LLC Grows Holdings in Robinhood Markets, Inc. $HOOD

Penserra Capital Management LLC increased its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 9.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,456 shares of the company’s stock after buying an additional 6,102 shares during the period. Penserra Capital Management LLC’s holdings in Robinhood Markets were worth $6,596,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in HOOD. Vanguard Group Inc. grew its holdings in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares in the last quarter. WCM Investment Management LLC lifted its position in shares of Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after purchasing an additional 11,244,182 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Robinhood Markets in the second quarter worth about $951,479,000. AGF Management Ltd. increased its holdings in Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after buying an additional 4,255,862 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Robinhood Markets by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock valued at $201,913,000 after buying an additional 131,620 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America increased their target price on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. The Goldman Sachs Group raised their price objective on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Barclays boosted their target price on shares of Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday. Zacks Research downgraded shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, Mizuho boosted their price objective on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.65.

Robinhood Markets Stock Performance

Shares of HOOD opened at $130.36 on Friday. The firm has a fifty day moving average of $130.11 and a 200-day moving average of $99.94. The company has a market cap of $115.85 billion, a price-to-earnings ratio of 54.09, a price-to-earnings-growth ratio of 3.31 and a beta of 2.42. Robinhood Markets, Inc. has a 1 year low of $29.21 and a 1 year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.20. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 22.13%. Robinhood Markets’s quarterly revenue was up 100.0% compared to the same quarter last year. During the same period last year, the firm posted $0.17 EPS. Analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $146.91, for a total transaction of $861,480.24. Following the completion of the transaction, the chief technology officer directly owned 6,088 shares in the company, valued at approximately $894,388.08. The trade was a 49.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $133.11, for a total value of $55,684,971.18. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 3,385,742 shares of company stock valued at $403,923,453. Company insiders own 14.47% of the company’s stock.

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.