State Street Corp Grows Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

State Street Corp grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 8.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,558,321 shares of the company’s stock after purchasing an additional 1,085,679 shares during the period. State Street Corp owned approximately 1.53% of Robinhood Markets worth $317,536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. HM Payson & Co. increased its stake in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank acquired a new stake in Robinhood Markets in the third quarter valued at $30,000. True Wealth Design LLC purchased a new position in shares of Robinhood Markets in the third quarter valued at $30,000. ORG Partners LLC acquired a new position in shares of Robinhood Markets during the 2nd quarter worth $33,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Robinhood Markets in the 3rd quarter worth about $33,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on HOOD shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. KeyCorp lifted their price objective on Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Piper Sandler increased their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Barclays raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $26.00 to $49.00 in a report on Monday. Finally, Sanford C. Bernstein upped their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.13.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total transaction of $279,625.00. Following the transaction, the insider now owns 1,057,500 shares in the company, valued at approximately $23,656,275. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the sale, the director now directly owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,851,175 shares of company stock worth $169,980,708 in the last three months. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $37.36 on Wednesday. The firm has a market capitalization of $33.03 billion, a price-to-earnings ratio of 63.32, a price-to-earnings-growth ratio of 0.93 and a beta of 2.08. Robinhood Markets, Inc. has a one year low of $10.38 and a one year high of $42.76. The company has a 50 day moving average price of $30.71 and a 200 day moving average price of $24.65.

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). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was up 36.4% on a year-over-year basis. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 0.77 EPS for the current fiscal year.

About Robinhood Markets

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.