Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Position Cut by Rakuten Securities Inc.

Rakuten Securities Inc. decreased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 22.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,565 shares of the company’s stock after selling 733 shares during the period. Rakuten Securities Inc.’s holdings in Robinhood Markets were worth $60,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Robinhood Markets by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after purchasing an additional 1,003,535 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after buying an additional 2,094,800 shares during the period. Dimensional Fund Advisors LP boosted its stake in Robinhood Markets by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock valued at $92,549,000 after buying an additional 112,967 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after purchasing an additional 3,817,355 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Robinhood Markets by 8.7% during the second quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock worth $54,749,000 after buying an additional 193,585 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insider Transactions at Robinhood Markets

In other news, Director Meyer Malka sold 3,225,806 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total value of $80,870,956.42. Following the transaction, the director now directly owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Meyer Malka sold 3,225,806 shares of Robinhood Markets stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the transaction, the director now directly owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the sale, the insider now directly owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,710,549 shares of company stock valued at $115,477,194. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $33.00 on Wednesday. The firm has a market capitalization of $29.17 billion, a P/E ratio of 55.93, a P/E/G ratio of 0.79 and a beta of 1.84. The stock has a fifty day moving average price of $24.69 and a two-hundred day moving average price of $22.05. Robinhood Markets, Inc. has a 52-week low of $7.91 and a 52-week high of $34.32.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.09) EPS. On average, equities research analysts predict that Robinhood Markets, Inc. will post 0.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HOOD. Bank of America lifted their price target on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. The Goldman Sachs Group reduced their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Barclays upped their price target on Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.10.

Robinhood Markets Company Profile

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.