Robinhood Markets, Inc. $HOOD Stock Position Increased by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services increased its Robinhood stake by 20.9% in the third quarter, adding 38,043 shares to hold 219,786 shares worth about $24.7 million. Institutional investors collectively own 93.27% of the company.
• Robinhood’s latest quarterly results beat earnings expectations, reporting EPS of $0.60 versus $0.56 forecast, while revenue of $1.42 billion fell short of estimates but grew 11.5% year over year.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $126.45. Insiders sold about 1.1 million shares worth roughly $128.8 million during the quarter.

Commonwealth Equity Services LLC lifted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 20.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,786 shares of the company's stock after buying an additional 38,043 shares during the quarter. Commonwealth Equity Services LLC's holdings in Robinhood Markets were worth $24,726,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TFB Advisors LLC lifted its position in shares of Robinhood Markets by 3.7% during the 3rd quarter. TFB Advisors LLC now owns 6,086 shares of the company's stock valued at $685,000 after buying an additional 219 shares in the last quarter. Caldwell Trust Co increased its holdings in Robinhood Markets by 56.4% in the 3rd quarter. Caldwell Trust Co now owns 4,279 shares of the company's stock worth $481,000 after acquiring an additional 1,543 shares in the last quarter. 3Chopt Investment Partners LLC acquired a new position in Robinhood Markets during the third quarter worth $218,000. Compass Financial Management LLC raised its position in Robinhood Markets by 36.3% during the third quarter. Compass Financial Management LLC now owns 1,834 shares of the company's stock worth $206,000 after acquiring an additional 488 shares during the period. Finally, Rakuten Investment Management Inc. raised its position in Robinhood Markets by 9.7% during the third quarter. Rakuten Investment Management Inc. now owns 139,373 shares of the company's stock worth $16,198,000 after acquiring an additional 12,304 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Up 3.0%

NASDAQ HOOD opened at $83.32 on Tuesday. The business has a fifty day moving average price of $105.55 and a 200 day moving average price of $92.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap 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, Inc. has a one year low of $63.51 and a one year high of $139.75.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HOOD shares. CICC Research increased their price objective on shares of Robinhood Markets from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Bank of America boosted their target price on shares of Robinhood Markets from $140.00 to $156.00 and gave the stock a "buy" rating in a research note on Monday, October 5th. Needham & Company LLC reduced their price target on shares of Robinhood Markets from $126.00 to $116.00 and set a "buy" rating for the company in a research report on Wednesday, October 28th. Morgan Stanley raised their price target on shares of Robinhood Markets from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, October 9th. Finally, Barclays lowered their price objective on Robinhood Markets from $132.00 to $115.00 and set an "overweight" rating on the stock in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus price target of $126.45.

Insider Transactions at Robinhood Markets

In other news, insider Steven Quirk sold 24,416 shares of the firm's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $120.33, for a total value of $2,937,977.28. Following the transaction, the insider directly owned 77,839 shares of the company's stock, valued at approximately $9,366,366.87. This trade represents a 23.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 50,912 shares of the company's stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $101.40, for a total transaction of $5,162,476.80. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,095,820 shares of company stock valued at $128,775,816. Company 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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