24,931 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 24,931 shares of the company's stock, valued at approximately $1,038,000.

A number of other large investors have also recently made changes to their positions in the business. MetLife Investment Management LLC grew its position in shares of Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after buying an additional 171 shares during the last quarter. Hemington Wealth Management grew its position in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after buying an additional 218 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after buying an additional 265 shares during the last quarter. Allworth Financial LP grew its position in shares of Robinhood Markets by 23.4% in the 1st quarter. Allworth Financial LP now owns 1,401 shares of the company's stock worth $58,000 after buying an additional 266 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its position in shares of Robinhood Markets by 0.8% in the 1st quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock worth $1,520,000 after buying an additional 272 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the transaction, the insider owned 228,621 shares in the company, valued at $16,035,476.94. The trade was a 31.45% 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. Also, Director Baiju Bhatt sold 1,568,421 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The disclosure for this sale can be found here. Insiders have sold 4,644,685 shares of company stock worth $430,085,957 over the last three months. Company insiders own 14.47% of the company's stock.

Robinhood Markets Trading Up 3.1%

Shares of NASDAQ:HOOD opened at $114.17 on Friday. The stock has a fifty day simple moving average of $95.36 and a two-hundred day simple moving average of $66.26. The stock has a market capitalization of $101.46 billion, a price-to-earnings ratio of 57.95, a PEG ratio of 4.35 and a beta of 2.36. Robinhood Markets, Inc. has a 12-month low of $18.71 and a 12-month high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. The firm had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The company's revenue was up 45.0% on a year-over-year basis. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HOOD. Piper Sandler lifted their price objective on Robinhood Markets from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Barclays lifted their price target on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. JMP Securities lifted their price target on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods lifted their price target on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $100.31.

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.

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