Quarry LP Decreases Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Quarry LP lessened its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 42.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,326 shares of the company’s stock after selling 1,716 shares during the period. Quarry LP’s holdings in Robinhood Markets were worth $54,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares during the period. Renaissance Technologies LLC increased its position in shares of 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 acquiring an additional 2,094,800 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 worth $107,298,000 after acquiring an additional 1,137,677 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Robinhood Markets by 20.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,481,794 shares of the company’s stock valued at $104,964,000 after acquiring an additional 769,281 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Robinhood Markets by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock worth $92,549,000 after buying an additional 112,967 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Down 5.1 %

NASDAQ:HOOD opened at $39.54 on Tuesday. The firm’s 50 day moving average is $30.41 and its two-hundred day moving average is $24.53. Robinhood Markets, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $42.76. The company has a market cap of $34.95 billion, a P/E ratio of 67.02, a P/E/G ratio of 0.93 and a beta of 2.08.

Robinhood Markets (NASDAQ:HOOD) last issued 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). The company had revenue of $637.00 million for 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%. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) EPS. Research analysts forecast that Robinhood Markets, Inc. will post 0.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the sale, the insider now owns 1,106,955 shares of the company’s stock, valued at $42,307,820.10. The trade was a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meyer Malka sold 1,535,681 shares of Robinhood Markets stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total value of $61,596,164.91. Following the transaction, the director now owns 4,974,238 shares in the company, valued at approximately $199,516,686.18. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,851,175 shares of company stock worth $169,980,708. Corporate insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HOOD shares. Citigroup lifted their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Sanford C. Bernstein boosted their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price target for the company from $40.00 to $46.00 in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday. Finally, JMP Securities boosted their target price on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $38.13.

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.