Northwest & Ethical Investments L.P. Purchases 11,000 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Northwest & Ethical Investments L.P. raised its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 297.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,700 shares of the company’s stock after acquiring an additional 11,000 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Robinhood Markets were worth $344,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. HM Payson & Co. raised its holdings in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares during the last quarter. Eastern Bank purchased a new stake in Robinhood Markets in the third quarter worth $30,000. ORG Partners LLC bought a new stake in Robinhood Markets in the second quarter valued at $33,000. ORG Wealth Partners LLC purchased a new position in Robinhood Markets during the 3rd quarter valued at $33,000. Finally, International Assets Investment Management LLC bought a new position in Robinhood Markets in the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HOOD shares. The Goldman Sachs Group cut their target price on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. KeyCorp lifted their price objective on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Needham & Company LLC raised Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Monday, November 18th. JPMorgan Chase & Co. lifted 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. Finally, Piper Sandler increased their price objective on Robinhood Markets from $30.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.59.

Insider Buying and Selling

In other news, Director Meyer Malka sold 3,225,806 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the sale, the director now owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. This trade represents a 9.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total transaction of $4,815,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,685,549 shares of company stock worth $114,953,194. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Stock Down 0.3 %

NASDAQ:HOOD opened at $37.54 on Friday. The stock has a market cap of $33.18 billion, a price-to-earnings ratio of 63.63, a PEG ratio of 0.88 and a beta of 1.84. The company’s 50 day moving average price is $28.43 and its 200-day moving average price is $23.63. Robinhood Markets, Inc. has a 52 week low of $8.69 and a 52 week high of $39.74.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results 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 the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) EPS. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.74 earnings per share for the current 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.