Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 71.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,740 shares of the company’s stock after selling 100,162 shares during the period. The Manufacturers Life Insurance Company’s holdings in Robinhood Markets were worth $931,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC acquired a new position in Robinhood Markets in the second quarter worth approximately $33,000. Swedbank AB acquired a new stake in shares of Robinhood Markets during the second quarter worth $5,172,000. Assenagon Asset Management S.A. lifted its holdings in shares of Robinhood Markets by 3,335.2% during the second quarter. Assenagon Asset Management S.A. now owns 627,951 shares of the company’s stock valued at $14,261,000 after purchasing an additional 609,671 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Robinhood Markets by 2,918.3% in the 2nd quarter. Blue Trust Inc. now owns 8,089 shares of the company’s stock valued at $184,000 after purchasing an additional 7,821 shares during the period. Finally, Raymond James & Associates increased its stake in Robinhood Markets by 28.6% in the 2nd quarter. Raymond James & Associates now owns 56,203 shares of the company’s stock worth $1,276,000 after purchasing an additional 12,512 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was 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 trade represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the transaction, the director now directly owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,851,175 shares of company stock valued at $169,980,708 over the last 90 days. 19.95% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on HOOD. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Barclays upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $26.00 to $49.00 in a research report on Monday. JMP Securities lifted their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. Sanford C. Bernstein increased their target price on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, KeyCorp lifted their price target on Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $38.13.

Robinhood Markets Trading Up 3.9 %

HOOD stock opened at $39.33 on Friday. The firm has a market cap of $34.77 billion, a PE ratio of 66.66, a PEG ratio of 0.93 and a beta of 2.08. Robinhood Markets, Inc. has a 1 year low of $10.38 and a 1 year high of $42.76. The company has a fifty day simple moving average of $31.35 and a 200 day simple moving average of $24.85.

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). The company had revenue of $637.00 million during 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%. Robinhood Markets’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) EPS. As a group, analysts forecast that Robinhood Markets, Inc. will post 0.77 EPS for the current fiscal 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.