Farther Finance Advisors LLC Buys 5,808 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Farther Finance Advisors LLC grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 834.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,504 shares of the company’s stock after acquiring an additional 5,808 shares during the period. Farther Finance Advisors LLC’s holdings in Robinhood Markets were worth $152,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HOOD. Allspring Global Investments Holdings LLC bought a new position in Robinhood Markets in the first quarter worth approximately $34,000. Quantbot Technologies LP bought a new position in shares of Robinhood Markets during the 1st quarter worth $521,000. Empowered Funds LLC purchased a new position in shares of Robinhood Markets during the first quarter valued at $262,000. SG Americas Securities LLC raised its holdings in shares of Robinhood Markets by 62.5% in the first quarter. SG Americas Securities LLC now owns 283,684 shares of the company’s stock valued at $5,711,000 after acquiring an additional 109,059 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Robinhood Markets in the first quarter worth about $1,610,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several recent research reports. Citigroup boosted their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a report on Thursday, October 31st. Bank of America lifted their price target on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. The Goldman Sachs Group decreased their price objective on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Morgan Stanley lifted their target price on Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.17.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the sale, the insider now owns 1,045,068 shares in the company, valued at $20,201,164.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Baiju Bhatt sold 143,944 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total transaction of $2,696,071.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 1,045,068 shares of the company’s stock, 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. In the last ninety days, insiders sold 4,854,493 shares of company stock worth $118,173,265. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $30.54 on Monday. The business has a fifty day moving average of $24.17 and a 200 day moving average of $21.83. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $30.63. The firm has a market capitalization of $27.00 billion, a price-to-earnings ratio of 51.76, a price-to-earnings-growth ratio of 0.73 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) EPS. As a group, equities research analysts expect that Robinhood Markets, Inc. will post 0.71 earnings per share for the current year.

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.