Bank of Montreal Can Sells 64,700 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Bank of Montreal Can reduced its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 11.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 511,029 shares of the company’s stock after selling 64,700 shares during the period. Bank of Montreal Can owned about 0.06% of Robinhood Markets worth $12,208,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. HM Payson & Co. boosted its holdings in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. Commerce Bank raised its stake in Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after acquiring an additional 423 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Robinhood Markets by 16.5% during the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after acquiring an additional 487 shares during the period. Castleview Partners LLC boosted its stake in shares of Robinhood Markets by 18.2% in the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after purchasing an additional 582 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in shares of Robinhood Markets by 3.1% in the 3rd quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock worth $463,000 after purchasing an additional 598 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HOOD shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a report on Monday, November 11th. Needham & Company LLC raised Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday, November 18th. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. Bank of America boosted their price objective on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Piper Sandler raised their target price on Robinhood Markets from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $37.54 on Monday. The firm’s 50 day moving average price is $28.43 and its two-hundred day moving average price is $23.67. The stock has a market cap of $33.18 billion, a PE ratio of 63.63, a PEG ratio of 0.87 and a beta of 1.84. Robinhood Markets, Inc. has a 52-week low of $8.69 and a 52-week high of $39.74.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS 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 company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period last year, the firm earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the transaction, the insider now directly owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 1.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 3,225,806 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the completion of the transaction, the director now directly owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. The trade was a 9.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,685,549 shares of company stock valued at $114,953,194 over the last three months. 19.95% of the stock is currently owned by corporate insiders.

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.