Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Bought by Covestor Ltd

Covestor Ltd lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 180.8% during the third quarter, Holdings Channel.com reports. The firm owned 18,554 shares of the company’s stock after acquiring an additional 11,946 shares during the period. Covestor Ltd’s holdings in Robinhood Markets were worth $434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. HM Payson & Co. boosted its position in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank acquired a new position in Robinhood Markets during the third quarter worth $30,000. ORG Partners LLC acquired a new position in Robinhood Markets during the second quarter worth $33,000. ORG Wealth Partners LLC purchased a new position in Robinhood Markets during the third quarter valued at $33,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Robinhood Markets during the first quarter valued at $34,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $30.54 on Friday. The company’s 50-day moving average is $24.17 and its two-hundred day moving average is $21.80. Robinhood Markets, Inc. has a 1-year low of $7.91 and a 1-year high of $30.63. The firm has a market capitalization of $27.00 billion, a price-to-earnings ratio of 51.76, a PEG ratio of 0.72 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company’s revenue was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) earnings per share. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 0.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HOOD shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, September 30th. KeyCorp increased their target price on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a research note on Thursday, October 31st. The Goldman Sachs Group dropped their price target on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, Barclays lifted their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.17.

Insider Activity

In related news, Director Baiju Bhatt sold 143,944 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total transaction of $2,696,071.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Baiju Bhatt sold 143,944 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total transaction of $2,696,071.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason Warnick sold 25,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $20.96, for a total value of $524,000.00. Following the transaction, the chief financial officer now owns 1,077,162 shares in the company, valued at $22,577,315.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,854,493 shares of company stock valued at $118,173,265 in the last quarter. Insiders own 19.95% of the company’s stock.

Robinhood Markets 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.