Versant Capital Management Inc Acquires 22,641 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Versant Capital Management Inc increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 6,799.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,974 shares of the company’s stock after purchasing an additional 22,641 shares during the quarter. Versant Capital Management Inc’s holdings in Robinhood Markets were worth $856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares during the period. State Street Corp lifted its holdings in Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after acquiring an additional 1,085,679 shares during the period. Geode Capital Management LLC boosted its position in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after purchasing an additional 1,895,427 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Robinhood Markets by 33.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after purchasing an additional 1,137,677 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

Shares of HOOD opened at $39.44 on Friday. The firm has a market cap of $34.86 billion, a P/E ratio of 66.85, a price-to-earnings-growth ratio of 0.81 and a beta of 2.09. Robinhood Markets, Inc. has a 1 year low of $10.38 and a 1 year high of $43.83. The company has a 50 day simple moving average of $35.24 and a two-hundred day simple moving average 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 the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business’s revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) earnings per share. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the transaction, the director now owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. This trade represents a 9.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,057,772 shares of company stock worth $182,023,158 over the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HOOD shares. Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Barclays raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $26.00 to $49.00 in a report on Monday, December 9th. KeyCorp boosted their price target on Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Piper Sandler raised their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target 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.