Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 15.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,419,817 shares of the company's stock after purchasing an additional 325,506 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.27% of Robinhood Markets worth $23,738,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. acquired a new position in Robinhood Markets in the third quarter worth $296,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Robinhood Markets by 33.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 16,647 shares of the company's stock valued at $163,000 after acquiring an additional 4,163 shares during the period. Raymond James & Associates boosted its holdings in shares of Robinhood Markets by 7.0% during the third quarter. Raymond James & Associates now owns 31,847 shares of the company's stock valued at $312,000 after acquiring an additional 2,070 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in shares of Robinhood Markets during the third quarter valued at $231,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of Robinhood Markets during the third quarter valued at $1,209,000. Institutional investors and hedge funds own 58.98% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In related news, CFO Jason Warnick sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $12.43, for a total value of $62,150.00. Following the completion of the sale, the chief financial officer now owns 921,267 shares of the company's stock, valued at approximately $11,451,348.81. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Vladimir Tenev sold 27,829 shares of the business's stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $9.35, for a total value of $260,201.15. Following the completion of the sale, the chief executive officer now owns 624,467 shares of the company's stock, valued at approximately $5,838,766.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jason Warnick sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $12.43, for a total value of $62,150.00. Following the completion of the sale, the chief financial officer now directly owns 921,267 shares of the company's stock, valued at approximately $11,451,348.81. The disclosure for this sale can be found here. Insiders have sold a total of 1,233,549 shares of company stock valued at $13,909,151 in the last 90 days. 20.81% of the stock is currently owned by corporate insiders.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $10.71 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $13.51. The stock's 50-day moving average is $10.85 and its two-hundred day moving average is $10.63. The stock has a market cap of $9.26 billion, a PE ratio of -13.06 and a beta of 1.40.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Tuesday, November 7th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. Robinhood Markets had a negative return on equity of 10.62% and a negative net margin of 41.54%. The company had revenue of $467.00 million for the quarter, compared to analysts' expectations of $479.51 million. During the same quarter in the previous year, the business posted ($0.20) EPS. The business's revenue for the quarter was up 29.4% on a year-over-year basis. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post -0.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HOOD shares. Piper Sandler reduced their price target on shares of Robinhood Markets from $11.50 to $10.50 and set a "neutral" rating for the company in a report on Wednesday, November 8th. The Goldman Sachs Group lifted their price objective on shares of Robinhood Markets from $10.00 to $11.50 and gave the company a "neutral" rating in a research note on Thursday, January 11th. Redburn Atlantic initiated coverage on shares of Robinhood Markets in a research report on Friday, December 1st. They issued a "neutral" rating and a $9.50 price target on the stock. JMP Securities reiterated a "market outperform" rating and issued a $23.00 price target on shares of Robinhood Markets in a research report on Friday, December 1st. Finally, Needham & Company LLC initiated coverage on shares of Robinhood Markets in a research report on Wednesday, October 11th. They issued a "hold" rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of "Hold" and an average price target of $12.50.

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), options, gold, and cryptocurrencies. The company provides various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is an online collection of beginners' guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and Dow Jones; Snacks, an accessible digest of business news stories for new generation of investors.

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