Empowered Funds LLC Sells 1,132 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Empowered Funds LLC lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 11.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,955 shares of the company’s stock after selling 1,132 shares during the quarter. Empowered Funds LLC’s holdings in Robinhood Markets were worth $210,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of HOOD. Baker Avenue Asset Management LP grew its holdings in Robinhood Markets by 77.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after acquiring an additional 203,354 shares during the period. Aigen Investment Management LP acquired a new position in Robinhood Markets in the third quarter valued at about $770,000. Robeco Institutional Asset Management B.V. boosted its holdings in Robinhood Markets by 146.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,161,240 shares of the company’s stock worth $27,196,000 after buying an additional 690,467 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Robinhood Markets by 85.3% during the 3rd quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock worth $2,749,000 after buying an additional 54,046 shares during the period. Finally, O Neil Global Advisors Inc. bought a new stake in shares of Robinhood Markets in the 2nd quarter valued at about $2,298,000. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HOOD shares. Barclays boosted their price objective on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC upgraded shares of Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Monday, November 18th. The Goldman Sachs Group reduced their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $24.00 to $55.00 in a report on Monday. Finally, Piper Sandler lifted their price objective on Robinhood Markets from $30.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.59.

Insider Activity

In other Robinhood Markets news, Director Meyer Malka sold 105,875 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $3,176,250.00. Following the completion of the sale, the director now directly owns 28,930,243 shares in the company, valued at $867,907,290. This trade represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00. The disclosure for this sale can be found here. Insiders sold a total of 4,685,549 shares of company stock valued at $114,953,194 in the last quarter. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Trading Down 3.8 %

Robinhood Markets stock opened at $36.42 on Wednesday. The company has a fifty day simple moving average of $27.27 and a 200 day simple moving average of $23.14. Robinhood Markets, Inc. has a 1-year low of $8.21 and a 1-year high of $39.74. The company has a market cap of $32.19 billion, a P/E ratio of 61.73, a price-to-earnings-growth ratio of 0.85 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.09) EPS. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 0.74 EPS for the current year.

Robinhood Markets Company Profile

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.