Prakash Investment Advisors LLC Invests $3.40 Million in Robinhood Markets, Inc. $HOOD

Prakash Investment Advisors LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 23,718 shares of the company’s stock, valued at approximately $3,396,000. Robinhood Markets makes up approximately 2.3% of Prakash Investment Advisors LLC’s holdings, making the stock its 14th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hantz Financial Services Inc. grew its position in shares of Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after purchasing an additional 148 shares in the last quarter. Valley National Advisers Inc. raised its position 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 buying an additional 100 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Robinhood Markets by 107.6% in the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. Smithfield Trust Co bought a new position in shares of Robinhood Markets during the second quarter worth $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Robinhood Markets during the third quarter valued at $29,000. 93.27% of the stock is owned by institutional investors.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $132.26, for a total transaction of $775,704.90. Following the transaction, the chief technology officer owned 26,725 shares of the company’s stock, valued at approximately $3,534,648.50. This represents a 18.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $121.63, for a total value of $45,611,250.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 706,413 shares of company stock worth $85,161,009 in the last ninety days. 14.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on HOOD. Cantor Fitzgerald dropped their price objective on shares of Robinhood Markets from $130.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday. Truist Financial cut their price target on Robinhood Markets from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Piper Sandler lowered their target price on Robinhood Markets from $155.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. KeyCorp reduced their price target on shares of Robinhood Markets from $160.00 to $130.00 and set an “overweight” rating on the stock in a research report on Monday, February 9th. Finally, Needham & Company LLC lowered their price objective on shares of Robinhood Markets from $135.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Seventeen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.71.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $75.65 on Friday. Robinhood Markets, Inc. has a 1 year low of $29.66 and a 1 year high of $153.86. The firm has a market capitalization of $68.02 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 1.27 and a beta of 2.43. The business has a 50 day simple moving average of $104.32 and a two-hundred day simple moving average of $117.37.

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

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.