Raymond James & Associates Acquires 43,075 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Raymond James & Associates lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 76.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,278 shares of the company’s stock after buying an additional 43,075 shares during the quarter. Raymond James & Associates’ holdings in Robinhood Markets were worth $2,325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HOOD. ORG Wealth Partners LLC purchased a new stake in shares of Robinhood Markets during the 3rd quarter worth $33,000. ORG Partners LLC acquired a new stake in Robinhood Markets during the second quarter worth about $33,000. Allspring Global Investments Holdings LLC acquired a new stake in Robinhood Markets during the first quarter worth about $34,000. International Assets Investment Management LLC acquired a new stake in Robinhood Markets during the second quarter worth about $40,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Robinhood Markets during the second quarter worth about $45,000. Institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total value of $545,522.06. Following the sale, the insider now directly owns 1,070,000 shares of the company’s stock, valued at approximately $25,059,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the transaction, the insider now directly owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,389,654 shares of company stock worth $106,229,132 in the last ninety days. Insiders own 19.95% of the company’s stock.

Robinhood Markets Trading Up 2.6 %

NASDAQ HOOD opened at $24.96 on Wednesday. The firm has a market cap of $22.08 billion, a price-to-earnings ratio of 42.09, a PEG ratio of 0.54 and a beta of 1.84. The company has a 50 day moving average of $23.51 and a 200-day moving average of $21.51. 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 quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same period in the prior year, the business earned ($0.09) earnings per share. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, analysts forecast that Robinhood Markets, Inc. will post 0.77 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on HOOD shares. Morgan Stanley raised their price objective on Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler lifted their price target on Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Citigroup lifted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, KeyCorp lifted their target price on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets has an average rating of “Hold” and an average 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.