13,000 Shares of Robinhood Markets, Inc. $HOOD Acquired by Kornitzer Capital Management Inc. KS

Key Points

• Kornitzer Capital Management initiated a Robinhood Markets stake, buying 13,000 shares worth approximately $1.46 million in the third quarter.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $126.45, though ratings range from Strong Buy to Sell.
• Robinhood reported quarterly EPS of $0.60, beating estimates of $0.56, while revenue of $1.42 billion fell short of expectations; revenue grew 11.5% year over year.

Kornitzer Capital Management Inc. KS purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,000 shares of the company's stock, valued at approximately $1,462,000.

Several other large investors have also recently bought and sold shares of HOOD. C M Bidwell & Associates Ltd. bought a new stake in shares of Robinhood Markets during the second quarter worth approximately $27,000. James T. Borello RIA bought a new position in shares of Robinhood Markets during the third quarter worth approximately $29,000. Cassaday & Co Wealth Management LLC acquired a new stake in Robinhood Markets during the 1st quarter worth approximately $33,000. Glen Eagle Advisors LLC lifted its holdings in Robinhood Markets by 100.7% during the 1st quarter. Glen Eagle Advisors LLC now owns 568 shares of the company's stock worth $39,000 after purchasing an additional 285 shares during the last quarter. Finally, Continuum Advisory LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth approximately $40,000. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HOOD shares. Raymond James Financial restated a "market perform" rating on shares of Robinhood Markets in a research note on Monday, October 5th. Bank of America increased their price objective on Robinhood Markets from $140.00 to $156.00 and gave the stock a "buy" rating in a research report on Monday, October 5th. Truist Financial dropped their target price on Robinhood Markets from $125.00 to $123.00 and set a "buy" rating for the company in a report on Friday, October 30th. Zacks Research cut shares of Robinhood Markets from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 2nd. Finally, BTIG Research reaffirmed a "buy" rating and set a $135.00 price target on shares of Robinhood Markets in a research report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $126.45.

Robinhood Markets Trading Up 3.0%

Shares of NASDAQ:HOOD opened at $83.32 on Tuesday. The business's 50 day simple moving average is $105.55 and its 200 day simple moving average is $92.18. Robinhood Markets, Inc. has a 1 year low of $63.51 and a 1 year high of $139.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $74.91 billion, a P/E ratio of 38.40, a P/E/G ratio of 1.95 and a beta of 2.56.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. The firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.44 billion. Robinhood Markets had a return on equity of 21.49% and a net margin of 39.04%. The company's quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 EPS. On average, research analysts anticipate that Robinhood Markets, Inc. will post 2.10 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Shiv Verma sold 11,472 shares of the business's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $110.42, for a total value of $1,266,738.24. Following the completion of the transaction, the chief financial officer owned 56,858 shares of the company's stock, valued at $6,278,260.36. The trade was a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Gallagher, Jr. sold 10,000 shares of the company's stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $113.71, for a total transaction of $1,137,100.00. Following the sale, the insider directly owned 499,943 shares of the company's stock, valued at $56,848,518.53. This represents a 1.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,095,820 shares of company stock valued at $128,775,816 in the last ninety days. Insiders own 13.48% of the company's stock.

Robinhood Markets Profile

Robinhood Markets, Inc operates a digital financial services platform that gives customers access to investing and financial products through its website and mobile app. Its offerings include trading in stocks, exchange-traded funds, options and cryptocurrencies, as well as retirement accounts and cash-management services.

Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood built its business around making financial services more accessible through a mobile-first platform. The company is headquartered in Menlo Park, California, and serves customers in the United States and select international markets.

Robinhood also offers subscription-based services through Robinhood Gold, which provides eligible customers with additional account features.

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