Blueshift Asset Management LLC Has $3.40 Million Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Blueshift Asset Management LLC lifted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 376.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 144,941 shares of the company’s stock after buying an additional 114,525 shares during the period. Robinhood Markets comprises about 0.8% of Blueshift Asset Management LLC’s portfolio, making the stock its 14th biggest holding. Blueshift Asset Management LLC’s holdings in Robinhood Markets were worth $3,395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings 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 acquiring an additional 3,817,355 shares in the last quarter. FMR LLC increased its stake in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares during the period. Renaissance Technologies LLC raised its holdings in Robinhood Markets by 37.7% in the 2nd 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 last quarter. Sparta 24 Ltd. raised its holdings in Robinhood Markets by 905.8% in the 3rd quarter. Sparta 24 Ltd. now owns 1,625,158 shares of the company’s stock valued at $38,061,000 after buying an additional 1,463,578 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Robinhood Markets by 169.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock worth $40,092,000 after buying an additional 1,251,495 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Trading Down 3.8 %

HOOD opened at $36.42 on Wednesday. Robinhood Markets, Inc. has a 1-year low of $8.21 and a 1-year high of $39.74. The company has a market cap of $32.19 billion, a price-to-earnings ratio of 61.73, a PEG ratio of 0.88 and a beta of 1.84. The company’s fifty day moving average price is $27.27 and its two-hundred day moving average price is $23.14.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share 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 return on equity of 7.52% and a net margin of 21.80%. The company’s revenue was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Meyer Malka sold 105,875 shares of Robinhood Markets stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $3,176,250.00. Following the sale, the director now owns 28,930,243 shares of the company’s stock, valued at approximately $867,907,290. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the transaction, the insider now owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,685,549 shares of company stock valued at $114,953,194. Corporate insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on HOOD. JPMorgan Chase & Co. upped their price target on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein increased their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Barclays upped their price objective on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Piper Sandler increased their price objective on shares of Robinhood Markets from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, The Goldman Sachs Group dropped their target price on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.59.

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.