Robinhood Markets, Inc. $HOOD Stake Increased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 20.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,786 shares of the company’s stock after acquiring an additional 38,043 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Robinhood Markets were worth $24,726,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp acquired a new position in shares of Robinhood Markets during the 2nd quarter valued at about $379,695,000. Amundi grew its holdings in shares of Robinhood Markets by 89.0% in the first quarter. Amundi now owns 6,385,232 shares of the company’s stock valued at $442,497,000 after purchasing an additional 3,007,103 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Robinhood Markets by 48.6% in the first quarter. Renaissance Technologies LLC now owns 5,104,137 shares of the company’s stock valued at $353,717,000 after purchasing an additional 1,668,400 shares during the period. Hound Partners LLC acquired a new stake in Robinhood Markets during the first quarter worth about $73,150,000. Finally, Amova Asset Management Americas Inc. increased its position in Robinhood Markets by 15.0% during the first quarter. Amova Asset Management Americas Inc. now owns 5,240,796 shares of the company’s stock worth $362,925,000 after purchasing an additional 685,041 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HOOD shares. Citigroup reaffirmed a “market outperform” rating on shares of Robinhood Markets in a research note on Friday, October 9th. Barclays dropped their price target on shares of Robinhood Markets from $132.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, October 28th. Mizuho raised their price target on shares of Robinhood Markets from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, September 9th. Zacks Research downgraded shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Monday, November 2nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Robinhood Markets from $115.00 to $114.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $126.45.

Robinhood Markets Stock Up 3.0%

Shares of NASDAQ:HOOD opened at $83.32 on Tuesday. The business has a 50-day moving average price of $105.55 and a 200 day moving average price of $92.18. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $74.91 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 1.95 and a beta of 2.56. Robinhood Markets, Inc. has a 12-month low of $63.51 and a 12-month high of $139.75.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. Robinhood Markets had a net margin of 39.04% and a return on equity of 21.49%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the firm earned $0.61 EPS. Robinhood Markets’s revenue was up 11.5% on a year-over-year basis. Sell-side analysts expect that Robinhood Markets, Inc. will post 2.10 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Gallagher, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $85.05, for a total value of $850,500.00. Following the sale, the insider directly owned 489,943 shares of the company’s stock, valued at approximately $41,669,652.15. The trade was a 2.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 11,472 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $110.42, for a total transaction of $1,266,738.24. Following the completion of the sale, the chief financial officer directly owned 56,858 shares in the company, valued at $6,278,260.36. This trade represents a 16.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,095,820 shares of company stock valued at $128,775,816. 13.48% of the stock is currently owned by company insiders.

Robinhood Markets Profile

Robinhood Markets, Inc operates a digital financial services platform that gives customers access to investing and financial products through its website and mobile app. Its offerings include trading in stocks, exchange-traded funds, options and cryptocurrencies, as well as retirement accounts and cash-management services.

Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood built its business around making financial services more accessible through a mobile-first platform. The company is headquartered in Menlo Park, California, and serves customers in the United States and select international markets.

Robinhood also offers subscription-based services through Robinhood Gold, which provides eligible customers with additional account features.