Robinhood Markets, Inc. $HOOD Position Lifted by New York Life Investment Management LLC

New York Life Investment Management LLC raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 6.4% in the third quarter, Holdings Channel.com reports. The fund owned 117,107 shares of the company’s stock after buying an additional 6,996 shares during the quarter. New York Life Investment Management LLC’s holdings in Robinhood Markets were worth $13,175,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HOOD. 71 West Capital Partners increased its holdings in shares of Robinhood Markets by 75.1% in the 3rd quarter. 71 West Capital Partners now owns 3,916 shares of the company’s stock valued at $441,000 after purchasing an additional 1,679 shares in the last quarter. Nemes Rush Group LLC boosted its holdings in Robinhood Markets by 7.5% during the third quarter. Nemes Rush Group LLC now owns 3,447 shares of the company’s stock worth $388,000 after buying an additional 241 shares in the last quarter. United Capital Management of KS Inc. purchased a new stake in Robinhood Markets during the third quarter worth about $2,387,000. Gryphon Financial Partners LLC boosted its holdings in Robinhood Markets by 2.1% during the third quarter. Gryphon Financial Partners LLC now owns 13,675 shares of the company’s stock worth $1,538,000 after buying an additional 276 shares in the last quarter. Finally, AlphaCore Capital LLC grew its position in Robinhood Markets by 321.1% during the third quarter. AlphaCore Capital LLC now owns 9,091 shares of the company’s stock worth $1,023,000 after buying an additional 6,932 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 50,912 shares of the company’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $101.40, for a total value of $5,162,476.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Gallagher, Jr. sold 10,000 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $113.71, for a total transaction of $1,137,100.00. Following the completion of the sale, the insider owned 499,943 shares in the company, valued at $56,848,518.53. This represents a 1.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,095,820 shares of company stock valued at $128,775,816 in the last quarter. 13.48% of the stock is owned by corporate insiders.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $84.58 on Thursday. Robinhood Markets, Inc. has a 52 week low of $63.51 and a 52 week high of $139.75. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.26. The firm’s 50-day simple moving average is $104.70 and its 200 day simple moving average is $91.95. The firm has a market capitalization of $76.16 billion, a PE ratio of 38.98, a P/E/G ratio of 1.81 and a beta of 2.56.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.44 billion. During the same period in the prior year, the company earned $0.61 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. On average, equities research analysts predict that Robinhood Markets, Inc. will post 2.10 EPS for the current fiscal year.

Robinhood Markets News Summary

Here’s some of the latest news about HOOD:

• Positive Sentiment: Robinhood launched commission-free access to U.S. IPOs for U.K. retail investors, extending its product offering and supporting its international expansion strategy. Robinhood opens US IPOs to UK retail investors with zero commission
• Positive Sentiment: Recent quarterly figures highlight growth beyond conventional trading: Robinhood Chain generated $26 million in revenue in its first quarter on mainnet, while event-contract revenue reached $173 million, more than six times the year-earlier level. Robinhood’s Latest Earnings Report Tells You All You Need to Know About the Future of Crypto
• Negative Sentiment: Hotter-than-expected inflation data pushed Bitcoin lower and revived expectations for tighter Federal Reserve policy, pressuring crypto-exposed trading platforms including Robinhood. Continued weakness in crypto prices or activity could dampen investor sentiment and trading revenue. Inflation data drags Bitcoin lower and pressures trading platforms

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of research analyst reports. Loop Capital set a $135.00 target price on shares of Robinhood Markets in a report on Tuesday, September 29th. Citigroup reissued a “market outperform” rating on shares of Robinhood Markets in a research note on Friday, October 9th. Scotiabank decreased their price target on Robinhood Markets from $136.00 to $124.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 28th. CICC Research upped their price target on Robinhood Markets from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Wall Street Zen downgraded Robinhood Markets from a “hold” rating to a “strong sell” rating in a research note on Sunday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $126.45.

Robinhood Markets Company 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.