Ethic Inc. Buys 6,099 Shares of Robinhood Markets, Inc. $HOOD

Ethic Inc. raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 10.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,051 shares of the company’s stock after buying an additional 6,099 shares during the period. Ethic Inc.’s holdings in Robinhood Markets were worth $7,206,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. C M Bidwell & Associates Ltd. purchased a new stake in shares of Robinhood Markets in the second quarter valued at approximately $27,000. James T. Borello RIA acquired a new stake in shares of Robinhood Markets during the third quarter valued at about $29,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Robinhood Markets during the first quarter valued at about $33,000. Glen Eagle Advisors LLC increased its position in shares of Robinhood Markets by 100.7% during the first quarter. Glen Eagle Advisors LLC now owns 568 shares of the company’s stock valued at $39,000 after acquiring an additional 285 shares during the last quarter. Finally, Continuum Advisory LLC purchased a new stake in shares of Robinhood Markets in the 2nd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $85.05, for a total value of $850,500.00. Following the transaction, the insider directly owned 489,943 shares in the company, valued at approximately $41,669,652.15. This trade represents a 2.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 50,912 shares of Robinhood Markets stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $101.40, for a total transaction of $5,162,476.80. 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 sold 1,095,820 shares of company stock worth $128,775,816 in the last ninety days. Company insiders own 13.48% of the company’s stock.

Robinhood Markets Stock Up 3.0%

Robinhood Markets stock opened at $83.32 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.24 and a current ratio of 1.24. Robinhood Markets, Inc. has a fifty-two week low of $63.51 and a fifty-two week high of $139.75. The stock has a 50-day simple moving average of $105.55 and a 200-day simple moving average of $92.18. The company has a market capitalization of $74.91 billion, a P/E ratio of 38.40, a PEG ratio of 1.95 and a beta of 2.56.

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

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent analyst reports. Loop Capital set a $135.00 price objective on shares of Robinhood Markets in a report on Tuesday, September 29th. BTIG Research restated a “buy” rating and set a $135.00 target price on shares of Robinhood Markets in a report on Wednesday, October 28th. Morgan Stanley boosted their price target on shares of Robinhood Markets from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Mizuho boosted their price objective on Robinhood Markets from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. Finally, Jefferies Financial Group increased their target price on Robinhood Markets from $127.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.

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