Cerity Partners LLC Has $2.52 Million Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cerity Partners LLC boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 32.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,629 shares of the company’s stock after purchasing an additional 26,245 shares during the quarter. Cerity Partners LLC’s holdings in Robinhood Markets were worth $2,521,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Eagle Asset Management Inc. acquired a new stake in shares of Robinhood Markets in the third quarter valued at approximately $2,506,000. Charles Schwab Investment Management Inc. raised its holdings in Robinhood Markets by 33.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after acquiring an additional 1,137,677 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Robinhood Markets by 871.9% during the 3rd quarter. Intech Investment Management LLC now owns 192,960 shares of the company’s stock valued at $4,519,000 after acquiring an additional 173,107 shares during the period. EULAV Asset Management lifted its position in shares of Robinhood Markets by 22.2% during the 3rd quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock valued at $12,881,000 after acquiring an additional 100,000 shares during the period. Finally, Commerce Bank increased its position in shares of Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares during the period. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Down 0.3 %

Robinhood Markets stock opened at $37.54 on Monday. The company has a market cap of $33.18 billion, a price-to-earnings ratio of 63.63, a PEG ratio of 0.87 and a beta of 1.84. Robinhood Markets, Inc. has a 12 month low of $8.69 and a 12 month high of $39.74. The business’s 50 day simple moving average is $28.43 and its 200 day simple moving average is $23.67.

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

Insiders Place Their Bets

In related news, Director Meyer Malka sold 105,875 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $3,176,250.00. Following the completion of the transaction, the director now directly owns 28,930,243 shares in the company, valued at approximately $867,907,290. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the transaction, the insider now owns 1,045,068 shares in the company, valued at $20,201,164.44. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,685,549 shares of company stock worth $114,953,194 in the last three months. 19.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HOOD has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on shares of Robinhood Markets from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Bank of America increased their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Citigroup raised their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. KeyCorp increased their price target on Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group lowered their target price on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

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.