WT Asset Management Ltd Invests $128.81 Million in Robinhood Markets, Inc. $HOOD

WT Asset Management Ltd bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the third quarter, Holdings Channel.com reports. The fund bought 899,600 shares of the company’s stock, valued at approximately $128,805,000. Robinhood Markets comprises approximately 5.9% of WT Asset Management Ltd’s investment portfolio, making the stock its 5th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of HOOD. Hantz Financial Services Inc. raised its holdings in shares of Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after acquiring an additional 148 shares in the last quarter. Valley National Advisers Inc. boosted its stake in shares of Robinhood Markets by 113.6% during the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Robinhood Markets by 107.6% during the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after buying an additional 99 shares during the period. Smithfield Trust Co bought a new position in Robinhood Markets in the second quarter worth approximately $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Robinhood Markets during the 3rd quarter valued at $29,000. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HOOD shares. Truist Financial dropped their price objective on Robinhood Markets from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Dbs Bank upgraded shares of Robinhood Markets to a “moderate buy” rating in a research note on Wednesday, November 12th. Barclays reduced their target price on Robinhood Markets from $159.00 to $124.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Robinhood Markets in a research note on Monday, December 22nd. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $180.00 target price on shares of Robinhood Markets in a research report on Wednesday, February 11th. Seventeen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $121.71.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $121.63, for a total transaction of $45,611,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $107.48, for a total transaction of $630,262.72. Following the transaction, the chief technology officer directly owned 9,133 shares in the company, valued at approximately $981,614.84. The trade was a 39.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 706,413 shares of company stock valued at $85,161,009. 14.47% of the stock is owned by insiders.

Robinhood Markets Stock Up 0.7%

Shares of NASDAQ HOOD traded up $0.51 during midday trading on Friday, reaching $76.16. 5,460,496 shares of the stock were exchanged, compared to its average volume of 30,446,396. The firm has a market cap of $68.48 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 1.27 and a beta of 2.43. The firm has a 50-day simple moving average of $104.32 and a two-hundred day simple moving average of $117.37. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Robinhood Markets had a net margin of 42.10% and a return on equity of 22.32%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. Research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Robinhood Markets Company 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.