Vaughan Nelson Investment Management L.P. Invests $37.82 Million in Robinhood Markets, Inc. $HOOD

Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 264,130 shares of the company’s stock, valued at approximately $37,818,000.

Several other hedge funds have also recently bought and sold shares of the business. Louisiana State Employees Retirement System acquired a new position in shares of Robinhood Markets in the 3rd quarter valued at about $5,813,000. CoreCap Advisors LLC increased its stake in Robinhood Markets by 4,242.0% in the 3rd quarter. CoreCap Advisors LLC now owns 19,148 shares of the company’s stock valued at $2,742,000 after buying an additional 18,707 shares during the period. North Star Investment Management Corp. lifted its position in Robinhood Markets by 44.9% in the 3rd quarter. North Star Investment Management Corp. now owns 255 shares of the company’s stock worth $37,000 after buying an additional 79 shares in the last quarter. Kathmere Capital Management LLC purchased a new stake in Robinhood Markets in the 3rd quarter worth approximately $219,000. Finally, Spirepoint Private Client LLC acquired a new stake in shares of Robinhood Markets during the 3rd quarter valued at $273,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 1,330,000 shares of Robinhood Markets stock in a transaction on Friday, November 7th. The shares were sold at an average price of $128.47, for a total value of $170,865,100.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven M. Quirk sold 49,942 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total transaction of $6,549,893.30. Following the sale, the insider owned 54,496 shares of the company’s stock, valued at $7,147,150.40. This trade represents a 47.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,905,899 shares of company stock worth $366,476,943. 14.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HOOD shares. Mizuho upped their price target on shares of Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Loop Capital set a $152.00 target price on Robinhood Markets in a research report on Thursday, December 11th. CICC Research started coverage on Robinhood Markets in a report on Monday, October 27th. They set an “outperform” rating and a $155.00 price target for the company. Needham & Company LLC lowered their price target on Robinhood Markets from $145.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, December 29th. Finally, Truist Financial began coverage on shares of Robinhood Markets in a research report on Wednesday, December 17th. They set a “buy” rating and a $155.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $136.80.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $121.70 on Wednesday. The stock’s 50 day simple moving average is $124.96 and its 200 day simple moving average is $117.78. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The company has a market capitalization of $109.43 billion, a price-to-earnings ratio of 50.50, a PEG ratio of 1.87 and a beta of 2.44.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.15 billion. During the same quarter last year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 100.0% compared to the same quarter last year. On average, analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.