Central Pacific Bank Trust Division Buys 1,812 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Central Pacific Bank Trust Division raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 5.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 32,301 shares of the company’s stock after acquiring an additional 1,812 shares during the period. Central Pacific Bank Trust Division’s holdings in Robinhood Markets were worth $1,204,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of HOOD. Toronto Dominion Bank boosted its holdings in Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after purchasing an additional 16,219 shares during the last quarter. Baker Avenue Asset Management LP lifted its position in shares of Robinhood Markets by 77.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after buying an additional 203,354 shares in the last quarter. Bridgewater Associates LP boosted its stake in shares of Robinhood Markets by 100.4% in the 3rd quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock worth $7,751,000 after buying an additional 165,791 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Robinhood Markets by 44.1% in the third quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock valued at $1,481,000 after acquiring an additional 19,345 shares in the last quarter. Finally, EULAV Asset Management increased its position in shares of Robinhood Markets by 22.2% during the third quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock valued at $12,881,000 after acquiring an additional 100,000 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

HOOD stock traded up $1.29 during mid-day trading on Friday, reaching $40.73. 12,679,241 shares of the company traded hands, compared to its average volume of 15,605,646. Robinhood Markets, Inc. has a 52-week low of $10.38 and a 52-week high of $43.83. The company has a market capitalization of $36.00 billion, a P/E ratio of 69.04, a P/E/G ratio of 0.81 and a beta of 2.09. The company has a fifty day moving average price of $35.24 and a 200-day moving average price of $26.62.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same period last year, the company posted ($0.09) EPS. The business’s revenue was up 36.4% on a year-over-year basis. As a group, analysts forecast that Robinhood Markets, Inc. will post 0.8 EPS for the current year.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the sale, the chief technology officer now directly owns 11,752 shares of the company’s stock, valued at $445,635.84. This trade represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $24.21, for a total transaction of $6,052,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,057,772 shares of company stock worth $182,023,158. Corporate insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Sanford C. Bernstein increased their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Morgan Stanley raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $24.00 to $55.00 in a research report on Monday, November 25th. Finally, KeyCorp lifted their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.20.

About Robinhood Markets

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.