Penserra Capital Management LLC Acquires 131,239 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Penserra Capital Management LLC increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 5,688.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,546 shares of the company’s stock after acquiring an additional 131,239 shares during the quarter. Penserra Capital Management LLC’s holdings in Robinhood Markets were worth $3,126,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. HM Payson & Co. increased its holdings in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the last quarter. Eastern Bank bought a new stake in shares of Robinhood Markets during the 3rd quarter worth about $30,000. ORG Partners LLC acquired a new position in Robinhood Markets in the 2nd quarter valued at about $33,000. ORG Wealth Partners LLC bought a new position in Robinhood Markets in the 3rd quarter valued at about $33,000. Finally, International Assets Investment Management LLC bought a new position in Robinhood Markets in the 2nd quarter valued at about $40,000. Institutional investors own 93.27% of the company’s stock.

Insider Activity

In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the transaction, the director now owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. This represents a 9.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,685,549 shares of company stock worth $114,953,194. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $37.85 on Tuesday. Robinhood Markets, Inc. has a fifty-two week low of $8.21 and a fifty-two week high of $39.74. The business has a fifty day moving average price of $27.27 and a two-hundred day moving average price of $23.14. The stock has a market capitalization of $33.46 billion, a PE ratio of 64.15, a PEG ratio of 0.85 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share. Robinhood Markets’s quarterly revenue was up 36.4% compared to the same quarter last year. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 0.74 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. The Goldman Sachs Group decreased their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Morgan Stanley raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $24.00 to $55.00 in a report on Monday. Needham & Company LLC raised Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday, November 18th. JMP Securities boosted their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Finally, Sanford C. Bernstein raised their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.59.

Robinhood Markets Company Profile

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.