Robinhood Markets, Inc. $HOOD Position Reduced by iA Global Asset Management Inc.

iA Global Asset Management Inc. trimmed its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 52.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,983 shares of the company’s stock after selling 71,247 shares during the period. iA Global Asset Management Inc.’s holdings in Robinhood Markets were worth $9,161,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. North Star Investment Management Corp. raised its stake in shares of Robinhood Markets by 44.9% in the 3rd quarter. North Star Investment Management Corp. now owns 255 shares of the company’s stock worth $37,000 after buying an additional 79 shares in the last quarter. CogentBlue Wealth Advisors LLC boosted its stake in Robinhood Markets by 3.8% during the third quarter. CogentBlue Wealth Advisors LLC now owns 2,391 shares of the company’s stock valued at $342,000 after buying an additional 87 shares in the last quarter. ORG Partners LLC grew its holdings in Robinhood Markets by 5.5% during the third quarter. ORG Partners LLC now owns 1,876 shares of the company’s stock worth $269,000 after acquiring an additional 97 shares during the period. Valley National Advisers Inc. lifted its holdings in Robinhood Markets by 113.6% in the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Finally, HM Payson & Co. lifted its holdings in Robinhood Markets by 8.5% in the 3rd quarter. HM Payson & Co. now owns 1,276 shares of the company’s stock valued at $183,000 after acquiring an additional 100 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 0.7%

Shares of NASDAQ:HOOD opened at $106.99 on Friday. The company’s fifty day moving average is $118.95 and its two-hundred day moving average is $119.50. The company has a market cap of $96.20 billion, a P/E ratio of 44.39, a price-to-earnings-growth ratio of 1.67 and a beta of 2.44. Robinhood Markets, Inc. has a 12-month low of $29.66 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.Robinhood Markets’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In other news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $116.56, for a total value of $48,761,477.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $121.63, for a total transaction of $45,611,250.00. The SEC filing for this sale provides additional information. In the last three months, insiders sold 2,878,425 shares of company stock worth $358,332,025. Corporate insiders own 14.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Loop Capital set a $152.00 price objective on shares of Robinhood Markets in a research note on Thursday, December 11th. Needham & Company LLC reduced their target price on shares of Robinhood Markets from $145.00 to $135.00 and set a “buy” rating for the company in a report on Monday, December 29th. Argus initiated coverage on shares of Robinhood Markets in a research report on Friday, January 9th. They issued a “buy” rating and a $145.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Robinhood Markets in a report on Monday, December 22nd. Finally, CICC Research began coverage on Robinhood Markets in a research note on Monday, October 27th. They set an “outperform” rating and a $155.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.62.

Robinhood Markets Company Profile

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.