Highland Capital Management LLC Grows Stock Position in Robinhood Markets, Inc. $HOOD

Highland Capital Management LLC raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 426.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,128 shares of the company’s stock after acquiring an additional 11,444 shares during the quarter. Highland Capital Management LLC’s holdings in Robinhood Markets were worth $2,023,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HOOD. CogentBlue Wealth Advisors LLC boosted its stake in shares of Robinhood Markets by 3.8% in the third quarter. CogentBlue Wealth Advisors LLC now owns 2,391 shares of the company’s stock valued at $342,000 after purchasing an additional 87 shares during the period. Wedmont Private Capital increased its stake in Robinhood Markets by 0.4% during the 3rd quarter. Wedmont Private Capital now owns 25,319 shares of the company’s stock worth $3,671,000 after buying an additional 113 shares during the period. True Vision MN LLC lifted its holdings in Robinhood Markets by 1.7% in the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock worth $642,000 after buying an additional 116 shares in the last quarter. Forum Financial Management LP boosted its position in Robinhood Markets by 0.8% in the 2nd quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock valued at $1,685,000 after buying an additional 134 shares during the last quarter. Finally, Hemington Wealth Management boosted its position in Robinhood Markets by 22.5% in the 2nd quarter. Hemington Wealth Management now owns 779 shares of the company’s stock valued at $72,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of analyst reports. Mizuho lifted their target price on Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Dbs Bank upgraded Robinhood Markets to a “moderate buy” rating in a research note on Wednesday, November 12th. Loop Capital set a $152.00 price objective on Robinhood Markets in a report on Thursday, December 11th. The Goldman Sachs Group increased their target price on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Finally, Bank of America decreased their price target on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $137.30.

Robinhood Markets Stock Down 1.9%

NASDAQ:HOOD opened at $118.13 on Friday. The company has a market cap of $106.22 billion, a PE ratio of 49.02, a P/E/G ratio of 2.20 and a beta of 2.43. The business’s 50 day moving average is $127.79 and its two-hundred day moving average is $115.18. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (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 business 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 company posted $0.17 EPS. The business’s revenue was up 100.0% compared to the same quarter last year. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of Robinhood Markets 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 completion of the transaction, the insider directly owned 430,012 shares of the company’s stock, valued at approximately $56,817,485.56. The trade was a 21.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 49,942 shares of the business’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 directly owned 54,496 shares of the company’s stock, valued at approximately $7,147,150.40. This represents a 47.82% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 3,686,763 shares of company stock valued at $475,848,059. Corporate insiders own 14.47% of the company’s stock.

About Robinhood Markets

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.