Quest Partners LLC Purchases 13,725 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Quest Partners LLC grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 1,008.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,086 shares of the company’s stock after buying an additional 13,725 shares during the period. Quest Partners LLC’s holdings in Robinhood Markets were worth $353,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. HM Payson & Co. boosted its stake in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares in the last quarter. Eastern Bank bought a new stake in shares of Robinhood Markets in the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new stake in shares of Robinhood Markets in the 2nd quarter worth approximately $33,000. ORG Wealth Partners LLC bought a new position in Robinhood Markets during the 3rd quarter valued at approximately $33,000. Finally, International Assets Investment Management LLC purchased a new position in Robinhood Markets during the second quarter valued at $40,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 4.4 %

Shares of HOOD stock opened at $36.65 on Monday. Robinhood Markets, Inc. has a 12 month low of $8.13 and a 12 month high of $38.11. The stock has a market cap of $32.40 billion, a P/E ratio of 62.12, a P/E/G ratio of 0.82 and a beta of 1.84. The company has a 50 day simple moving average of $26.96 and a two-hundred day simple moving average of $23.00.

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

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the sale, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. This represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,685,549 shares of company stock valued at $114,953,194 over the last quarter. 19.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley raised their price target on Robinhood Markets from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Citigroup lifted their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. JPMorgan Chase & Co. increased their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. Bank of America boosted their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.66.

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.