Stifel Financial Corp Lowers Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Stifel Financial Corp trimmed its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,319 shares of the company’s stock after selling 398 shares during the period. Stifel Financial Corp’s holdings in Robinhood Markets were worth $616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC grew its position in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after buying an additional 2,094,800 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Robinhood Markets by 33.0% during 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 buying an additional 1,137,677 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Robinhood Markets by 20.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,481,794 shares of the company’s stock worth $104,964,000 after acquiring an additional 769,281 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Robinhood Markets by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock worth $92,549,000 after acquiring an additional 112,967 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HOOD has been the subject of a number of recent research reports. Piper Sandler raised their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Morgan Stanley raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $24.00 to $55.00 in a research note on Monday, November 25th. JPMorgan Chase & Co. upped their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Citigroup upped their price objective on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.20.

Robinhood Markets Trading Up 5.5 %

NASDAQ:HOOD opened at $39.58 on Thursday. The company has a market cap of $34.99 billion, a price-to-earnings ratio of 67.09, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09. Robinhood Markets, Inc. has a twelve month low of $10.38 and a twelve month high of $43.83. The stock has a fifty day simple moving average of $33.83 and a 200-day simple moving average of $26.00.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (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 analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period last year, the firm earned ($0.09) earnings per share. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 98,404 shares of Robinhood Markets stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the sale, the director now directly owns 2,521 shares in the company, valued at $66,554.40. The trade was a 97.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $22.88, for a total transaction of $5,720,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,043,565 shares of company stock worth $177,315,305. Company insiders own 19.95% of the company’s stock.

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.