Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Bought by Creative Planning

Creative Planning boosted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 34.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 35,384 shares of the company’s stock after acquiring an additional 9,094 shares during the period. Creative Planning’s holdings in Robinhood Markets were worth $829,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the period. ORG Partners LLC acquired a new position in Robinhood Markets during the second quarter worth $33,000. ORG Wealth Partners LLC acquired a new position in Robinhood Markets during the third quarter worth $33,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at about $34,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $40,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $23.97 on Friday. The firm has a market cap of $21.21 billion, a PE ratio of 40.63 and a beta of 1.83. The company has a 50-day moving average of $23.44 and a two-hundred day moving average of $21.43. Robinhood Markets, Inc. has a 1-year low of $7.91 and a 1-year high of $28.58.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.61% and a net margin of 21.80%. The company’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period last year, the business earned ($0.09) EPS. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Jason Warnick sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the completion of the transaction, the chief financial officer now owns 1,077,162 shares of the company’s stock, valued at approximately $22,577,315.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. Insiders sold a total of 4,639,654 shares of company stock valued at $110,241,632 over the last 90 days. 19.95% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on HOOD shares. Keefe, Bruyette & Woods reduced their target price on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group reduced their target price on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday. Bank of America increased their target price on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Barclays increased their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Citigroup increased their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Hold” and a consensus target price of $25.17.

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.