Sheaff Brock Investment Advisors LLC Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Sheaff Brock Investment Advisors LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,315 shares of the company’s stock, valued at approximately $288,000.

A number of other large investors have also modified their holdings of HOOD. Vanguard Group Inc. raised its stake in shares of Robinhood Markets by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after purchasing an additional 1,003,535 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Robinhood Markets by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock valued at $92,549,000 after purchasing an additional 112,967 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Robinhood Markets by 1,211,858.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after acquiring an additional 3,817,355 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Robinhood Markets by 8.7% during the second quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock worth $54,749,000 after purchasing an additional 193,585 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity

In other news, CFO Jason Warnick sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the sale, the chief financial officer now directly owns 1,077,162 shares in the company, valued at $22,577,315.52. This trade represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the transaction, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,710,549 shares of company stock worth $115,477,194 in the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. KeyCorp increased their price target on shares of Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods decreased their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group lowered their price objective on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their target price on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $26.10.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $32.32 on Friday. The stock has a 50-day moving average of $25.47 and a 200-day moving average of $22.29. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $34.32. The stock has a market cap of $28.57 billion, a PE ratio of 54.78, a price-to-earnings-growth ratio of 0.76 and a beta of 1.84.

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). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) earnings per share. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 0.72 earnings per share 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.