Van ECK Associates Corp Has $633,000 Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Van ECK Associates Corp lessened its position in Robinhood Markets, Inc. (NASDAQ:HOODGet Rating) by 59.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,662 shares of the company’s stock after selling 90,797 shares during the period. Van ECK Associates Corp’s holdings in Robinhood Markets were worth $633,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC boosted its stake in shares of Robinhood Markets by 22.8% in the 3rd quarter. CWM LLC now owns 4,879 shares of the company’s stock valued at $49,000 after purchasing an additional 906 shares in the last quarter. Covestor Ltd acquired a new position in Robinhood Markets during the 1st quarter worth about $28,000. Allspring Global Investments Holdings LLC lifted its position in Robinhood Markets by 89.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,707 shares of the company’s stock worth $55,000 after buying an additional 3,175 shares in the last quarter. Quantbot Technologies LP acquired a new position in Robinhood Markets during the 2nd quarter worth about $28,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Robinhood Markets during the 2nd quarter worth about $29,000. Institutional investors and hedge funds own 58.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on HOOD shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Robinhood Markets from $10.00 to $9.00 in a research report on Wednesday, January 11th. Citigroup downgraded shares of Robinhood Markets from a “buy” rating to a “neutral” rating and cut their target price for the company from $11.00 to $10.00 in a research report on Monday, December 12th. Mizuho upped their target price on shares of Robinhood Markets from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, November 4th. The Goldman Sachs Group cut their target price on shares of Robinhood Markets from $12.50 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, January 9th. Finally, Morgan Stanley cut their target price on shares of Robinhood Markets from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Hold” and a consensus price target of $11.57.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $9.32 on Tuesday. The business has a 50 day simple moving average of $8.93 and a 200 day simple moving average of $9.60. Robinhood Markets, Inc. has a 52-week low of $6.81 and a 52-week high of $16.49. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of -1.28 and a beta of 0.86.

Robinhood Markets (NASDAQ:HOODGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.13. Robinhood Markets had a negative return on equity of 11.92% and a negative net margin of 149.53%. The business had revenue of $361.00 million during the quarter, compared to analysts’ expectations of $372.02 million. On average, analysts predict that Robinhood Markets, Inc. will post -1.12 EPS for the current year.

Insider Buying and Selling

In other news, insider Baiju Bhatt sold 106,061 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $8.53, for a total transaction of $904,700.33. Following the completion of the transaction, the insider now directly owns 1,185,047 shares of the company’s stock, valued at approximately $10,108,450.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 5th. The shares were sold at an average price of $8.13, for a total transaction of $101,625.00. Following the completion of the transaction, the insider now directly owns 334,573 shares of the company’s stock, valued at approximately $2,720,078.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Baiju Bhatt sold 106,061 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $8.53, for a total transaction of $904,700.33. Following the transaction, the insider now directly owns 1,185,047 shares of the company’s stock, valued at $10,108,450.91. The disclosure for this sale can be found here. In the last three months, insiders sold 448,374 shares of company stock valued at $4,138,493. 15.31% of the stock is owned by corporate insiders.

Robinhood Markets Profile

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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 also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.

Further Reading

Institutional Ownership by Quarter for Robinhood Markets (NASDAQ:HOOD)

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